Summary of PG&E CORP - Yahoo! Finance

Item 8.01. Other Events.
On November 18, 2008, Pacific Gas and Electric Company (the "Utility"), a subsidiary of PG&E Corporation, issued $400 million principal amount of 6.25% Senior Notes due December 1, 2013 and $200 million principal amount of 8.25% Senior Notes due October 15, 2018. (For further information concerning the senior notes, refer to the exhibits attached to this report.) The proceeds from the senior notes issuance will be used for general corporate purposes and partially to repay the Utility's outstanding 3.6% Senior Notes in the principal amount of $600 million that will mature on March 1, 2009. Item 9.01. Financial Statements and Exhibits

Exhibits.

Exhibit No.   Description

1.1           Underwriting Agreement, dated November 13, 2008 in connection with the
              Utility's offering of $400,000,000 aggregate principal amount of its
              6.25% Senior Notes due December 1, 2013 and $200 million principal
              amount of its 8.25% Senior Notes due October 15, 2018. (1)

4.1           Fifth Supplemental Indenture dated as of November 18, 2008 relating to
              the Utility's issuance of $400,000,000 aggregate principal amount of its
              6.25% Senior Notes due December 1, 2013 and $200 million principal
              amount of its 8.25% Senior Notes due October 15, 2018.

4.2           Specimen of 8.25% Senior Note due October 15, 2018 (included as
              Exhibit A to Fifth Supplemental Indenture filed as Exhibit 4.1).

4.3           Specimen of 6.25% Senior Note due December 1, 2013 (included as
              Exhibit B to Fifth Supplemental Indenture filed as Exhibit 4.1)

5.1           Opinion of Orrick, Herrington & Sutcliffe LLP regarding the legality of
              the notes

(1) Certain schedules have been omitted from this exhibit. The registrants hereby undertake to furnish supplementally copies of any of the omitted schedules upon request by the Commission.