3/26/04 8-K

SECURITIES AND EXCHANGE COMMISSION


Washington, D.C.  20549


FORM 8-K


CURRENT REPORT


Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report: March 26, 2004


     


Commission
File
Number

Exact Name of
Registrant
as specified in
its charter


State or other
Jurisdiction of
Incorporation


IRS Employer
  Identification
Number

_____________

_____________

_____________

_____________

1-12609

1-2348

PG&E Corporation

Pacific Gas and
Electric Company

California

California

94-3234914

94-0742640

     

Pacific Gas and Electric Company
77 Beale Street, P. O. Box 770000
San Francisco, California  94177

PG&E Corporation
One Market, Spear Tower, Suite 2400
San Francisco, California  94105

     

(Address of principal executive offices) (Zip Code)


Pacific Gas and Electric Company
(415) 973-7000

PG&E Corporation
(415) 267-7000

     

(Registrant's telephone number, including area code)

     


Item 5.  Other Events and Regulation FD Disclosure

          On March 26, 2004, Pacific Gas and Electric Company (Utility) and its parent, PG&E Corporation, two of the proponents of the Utility’s confirmed plan of reorganization (Plan) under Chapter 11 of the U.S. Bankruptcy Code, notified the U.S. Bankruptcy Court for the Northern District of California (Bankruptcy Court) that they have determined that the California Public Utilities Commission (CPUC) has given “Final Approval” (as such term is defined in the Plan) of (1) the settlement agreement entered into by the CPUC, the Utility and PG&E Corporation on December 19, 2003 and (2) all rates, tariffs and agreements necessary to implement the Plan for purposes of satisfying the conditions to Plan effectiveness specified in Section 8.2(f) and 8.2(h), respectively, of the Plan.

          Also, on March 26, 2004, PG&E Corporation, the Utility, and the other proponent of the Plan, the Official Committee of Unsecured Creditors, notified the Bankruptcy Court that all conditions precedent to the effectiveness of the Plan (which are set forth in Section 8.2 of the Plan) were satisfied on March 26, 2004.  Under the Plan, the “Distribution Record Date” is the first business day after the conditions specified in Section 8.2 have been satisfied and the “Effective Date” is the tenth business day after the Distribution Record Date.  Accordingly, the proponents notified the Bankruptcy Court that the Distribution Record Date will occur on March 29, 2004 and the Effective Date will occur on April 12, 2004.

          Holders of allowed claims or equity interests as of the close of business on the Distribution Record Date are entitled to the distributions that will be made under the Plan on the Effective Date or as soon as practicable thereafter.  The Utility will have no obligation to recognize any transfer of any allowed claim or equity interest occurring after the Distribution Record Date. 

SIGNATURE
     

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.

                                                                     

PG&E CORPORATION

                                                                     

        LINDA Y.H. CHENG

                                                                     

       Linda Y.H. Cheng

      Corporate Secretary

                                                                     

PACIFIC GAS AND ELECTRIC COMPANY

                                                                     

         LINDA Y.H. CHENG

                                                                     

       Linda Y.H. Cheng
       Corporate Secretary

Dated:  March 26, 2004