Exhibit 99.1
PACIFIC GAS AND ELECTRIC COMPANY
U.S. TRUSTEE BALANCE SHEET
AS OF JANUARY 31, 2003
(in millions, except share amounts)
			January, 2003
ASSETS
Current Assets
	Cash and cash equivalents		$               3,392
	Accounts receivable:
		Customers (net of allowance for doubtful accounts of $62 million)	1,875
		Related parties	30
		Regulatory balancing accounts	102
	Inventories:
		Gas stored underground and fuel oil	124
		Materials and supplies	120
	Prepaid expenses and other		112
	Total current assets		5,755
Property, Plant, and Equipment
	Electric		18,981
	Gas		8,109
	Construction work in progress		426
	Total property, plant, and equipment (at original cost)		27,516
	Accumulated depreciation and decommissioning		(13,559)
Net property, plant, and equipment			13,957
Other Noncurrent Assets
	Regulatory assets		1,976
	Nuclear decommissioning trust funds		1,319
	Other		1,792
	Total noncurrent assets		5,087
TOTAL ASSETS			$             24,799
LIABILITIES AND EQUITY
Liabilities
	Accounts payable
		Trade creditors	$                  329
		Related parties	126
		Regulatory Balancing Accounts	413
		Other	235
	Accrued taxes		(74)
	Rate reduction bonds		1,389

	QUID's		-
	Deferred income taxes		1,535
	Deferred tax credits		142
	Pre-petition secured debt		3,055
	Pre-petition liabilities		3,805
	Pre-petition financing debt		5,660
	Other liabilities		3,362
	Total liabilities		19,977
Preferred Stock With Mandatory Redemption Provisions			137
Stockholders' Equity
	Preferred stock without mandatory redemption provisions
		Nonredeemable--5% to 6%, outstanding 5,784,825 shares	145
		Redeemable--4.36% to 7.04%, outstanding 5,973,456 shares	149
	Common stock, $5 par value, authorized 800,000,000 shares;
		issued 321,314,760 shares	1,606
	Additional paid in capital		1,964
	Reinvested earnings (Accumulated deficit)		821
	Total stockholders' equity		4,685
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY			$             24,799

PACIFIC GAS AND ELECTRIC COMPANY
U.S. TRUSTEE BALANCE SHEET
AS OF JANUARY 31, 2003
Notes
1	These unaudited financial statements are prepared for the U.S. Trustee and differ from the requirements of generally accepted accounting principles in that they exclude certain financial statements (statements of cash flows, stockholders equity, and other comprehensive income), relevant footnotes and certain reclassifications.
2	These unaudited financial statements were prepared using certain assumptions and estimates.  These assumptions and estimates are subject to revision.  Further, the amounts shown in this statement, when reported on a quarterly basis, may differ materially due to adjustments in accruals, changes in facts and circumstances, changes in estimates, further analysis, and other factors.
3	Cash and cash equivalents have been reduced for uncleared checks.  On the balance sheet included with the Utility's Annual Report, Form 10-K and 10-Q, uncleared checks are treated as an accounts payable liability.

PACIFIC GAS AND ELECTRIC COMPANY
U.S. TRUSTEE INCOME STATEMENT
FOR THE MONTH ENDED JANUARY 31, 2003
AND THE TWENTY-TWO MONTHS ENDED JANUARY 31, 2003
(in millions)
		Case to date
	Month	twenty-two months
	ended	ended
	January 31, 2003	January 31, 2003
OPERATING REVENUES	$                       812	$               19,226
OPERATING EXPENSES:
Cost of Electric Energy	179	2,135
Cost of Gas	156	2,060
Operating and Maintenance	213	5,047
Depreciation, Decommissioning, and Amortization	122	1,974
Total Operating Expenses	670	11,216
OPERATING INCOME (LOSS)	142	8,010
Interest Income (Expense)	(71)	(1,646)
Professional Fees	(4)	(60)
Other Income and (Expense)	0	(10)
PRE-TAX INCOME (LOSS)	67	6,294
Income Taxes	18	2,416
EARNINGS (LOSS)	49	3,878
Preferred Dividend Requirement	2	46
EARNINGS (LOSS) AVAILABLE
FOR (ALLOCATED TO) COMMON STOCK	$                        47	$                 3,832

PACIFIC GAS AND ELECTRIC COMPANY
U.S.  TRUSTEE INCOME STATEMENT
FOR THE MONTH ENDED JANUARY 31, 2003
AND THE TWENTY-TWO MONTHS ENDED JANUARY 31, 2003
Notes
1	These unaudited financial statements are prepared for the U.S. Trustee and differ from the requirements of generally accepted accounting principles in that they exclude certain financial statements (statements of cash flows, stockholders equity, and other comprehensive income), relevant footnotes and certain reclassifications.
2	These unaudited financial statements were prepared using certain assumptions and estimates.  These assumptions and estimates are subject to revision.  Further, the amounts shown in this statement, when reported on a quarterly basis, may differ materially due to adjustments in accruals, changes in facts and circumstances, changes in estimates, further analysis, and other factors.
	The results for the month of January 2003 are not indicative of future earnings.  Future earnings could differ materially.
3	These unaudited financial statements were prepared using certain assumptions and estimates, including the estimated amount payable to the California Department of Water Resources (DWR).  The estimated amount recorded is subject to revision and actual results could differ materially.  Revenues collected on behalf of the DWR and the related costs are not reflected in these unaudited financial statements as Pacific Gas and Electric Company is a collection agent for the DWR.
4	Case to date results reflect the entire twenty-two month period ended January 31, 2003.  The bankruptcy petition date is April 6, 2001.