8-K 1 0001.txt 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: June 8, 2000 Exact Name of Commission Registrant State or other IRS Employer File as specified Jurisdiction of Identification Number in its charter Incorporation Number --------- -------------- -------------- ------------- 1-12609 PG&E Corporation California 94-3234914 1-2348 Pacific Gas and California 94-0742640 Electric Company Pacific Gas and Electric Company PG&E Corporation 77 Beale Street, P.O. Box 770000 One Market, Spear Tower, Suite 2400 San Francisco, California 94177 San Francisco, California 94105 (Address of principal executive offices) (Zip Code) Pacific Gas and Electric Company PG&E Corporation (415) 973-7000 (415) 267-7000 (Registrant's telephone number, including area code) Item 5. Other Events A. Pacific Gas and Electric Company's 2000 Cost of Capital Proceeding On June 8, 2000, the California Public Utilities Commission (CPUC) issued a final decision in Pacific Gas and Electric Company's 2000 cost of capital proceeding. (Pacific Gas and Electric Company (Utility) is the California utility subsidiary of PG&E Corporation.) The final decision approved a settlement reached earlier this year by all parties to the proceeding. The decision adopts a return on common equity (ROE) of 11.22 percent on electric and gas distribution operations, retroactive to February 17, 2000, as compared to the Utility's current authorized ROE of 10.6 percent. The decision also affirmed the existing authorized Utility capital structure of 46.2 percent long-term debt, 5.8 percent preferred stock, and 48.0 percent common equity. The decision results in an authorized 9.12 percent overall return on Utility electric and gas distribution rate base. The Utility's 2000 electric and gas revenues will increase by approximately $37 million and $12 million, respectively, for the period February 17, 2000 through December 31, 2000. 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 By CHRISTOPHER P. JOHNS --------------------- CHRISTOPHER P. JOHNS Vice President and Controller PACIFIC GAS AND ELECTRIC COMPANY By KENT M. HARVEY --------------------- KENT M. HARVEY Senior Vice President, Treasurer, Chief Financial Officer, and Controller Dated: June 9, 2000