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:  September 7, 2001



            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.

On September 7, 2001, Pacific Gas and Electric Company (Utility), a
subsidiary of PG&E Corporation, filed its monthly operating report for the
month ended July 30, 2001, with the U.S. Bankruptcy Court for the Northern
District of California.  The Utility's monthly operating report includes
an unaudited income statement for the month and an unaudited balance sheet
dated as of the end of the month.  These unaudited financial statements
are attached as Exhibit 99 to this report.  The monthly operating report
also includes a statement of receipts and disbursements, as well as other
information.  The preliminary financial statements were prepared using
certain assumptions and estimates that are subject to revision.  Any
adjustments for these estimates (based upon changes in facts and
circumstances, further analysis, and other factors) will be reflected in
the financial statements in the period during which such adjustments are
made.  These adjustments could have a material impact on reported results
in the future.


Item 7. Financial Statements, Pro Forma, Financial Information, and
Exhibits

Exhibit 99 - Pacific Gas and Electric Company Income Statement for
the month ended July 30, 2001, and Balance Sheet dated July 30, 2001.





				        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: DINYAR B. MISTRY
                                  -----------------------------
                                  DINYAR B. MISTRY
                                  Vice President and Controller





Dated:  September 7, 2001

EX-99

					Exhibit 99

Pacific Gas and Electric Company
U.S. Trustee Balance Sheet
As of July 31, 2001
(in millions, except share amounts)

	July 2001
ASSETS
Current Assets
Cash and cash equivalents	$	  (13)
Short-term investments			3,460
Accounts receivable:
Customers (net of allowance for doubtful
 accounts of $53 million)		1,700
Related parties			   	   34
Regulatory balancing accounts		   58
Inventories:
Gas stored underground and fuel oil	  261
Materials and supplies			  128
Prepaid expenses and other		  126
					-------
Total current assets			5,754

Property, Plant, and Equipment
Electric			       16,809
Gas					7,539
Construction work in progress		  243
Total property, plant, and equipment	-------
 (at original cost)		       24,591
Accumulated depreciation and
 decommissioning		      (11,504)
					-------
Net property, plant, and equipment     13,087

Other Noncurrent Assets
Regulatory assets			1,846
Nuclear decommissioning trust funds	1,332
Other					2,091
					-------
Total noncurrent assets			5,269
					-------
TOTAL ASSETS			    $  24,110
				    -----------
				    ----------


LIABILITIES AND EQUITY
Liabilities
Accounts payable
Trade creditors			    $	  233
Related parties			 	   25
Regulatory Balancing Accounts		  354
Other					  218
Accrued taxes				  196
Rate reduction bonds			1,830
Deferred income taxes			1,110
Deferred tax credits			  169
Pre-petition secured debt		3,391
Pre-petition liabilities		5,436
Pre-petition financing debt		5,816
Other liabilities			3,327
					-------
Total liabilities 	   	       22,105

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
Accumulated deficit	   	       (1,967)
Accumulated other comprehensive loss      (29)
					-------
Total stockholders' equity		1,868
					-------

TOTAL LIABILITIES AND STOCKHOLDERS'
 EQUITY				    $  24,110
				    -----------
				    ----------



		Pacific Gas and Electric Company
		  U.S. Trustee Balance Sheet
		     As of July 31, 2001

Notes:

1.  These preliminary financial statements were prepared using
certain assumptions and estimates.  These assumptions and
estimates are subject to revision and actual results could differ
materially from the information provided in this statement.
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.

2.  These unaudited 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.

3.  Cash and cash equivalents have been reduced for uncleared
checks.  On the balance sheet included with the Utility's 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 July 31, 2001
	    and the four months ended July 31, 2001
			(in millions)

						Case to date
				Month		four months
				ended		   ended
			    July 31, 2001	July 31, 2001
OPERATING REVENUES	   $	  1,023		$	3,332

OPERATING EXPENSES:
Cost of Electric Energy		    116	 		 (246)
Cost of Gas	  		    (19)		  410
Operating and Maintenance	    235			  915
Depreciation, Decommissioning,
 and Amortization		     77			  299
				  -------		-------
Total Operating Expenses	    409			1,378
			       	  -------		-------

OPERATING INCOME (LOSS)		    614			1,954
				  -------		-------

Interest Income (Expense)	    (69)		 (277)
Professional Fees		     (2)		   (6)
Other Income and (Expense)	     (1)		   (3)
	-------	-------

PRE-TAX INCOME (LOSS)	  	     542		1,668
				  -------		-------
Income Taxes	  		     209		  633
				  -------		-------
EARNINGS (LOSS)			     333		1,035
Preferred Dividend Requirement	       2		    8

EARNINGS (LOSS) AVAILABLE FOR
 (ALLOCATED TO) COMMON STOCK	     331 	$	1,027
				  -------		-------
				  -------		-------



		Pacific Gas and Electric Company
		 U.S. Trustee Income Statement
		For the month ended July 31, 2001
	    and the four months ended July 31, 2001

Notes:

1.  These preliminary financial statements were prepared using
certain assumptions and estimates.  These assumptions and
estimates are subject to revision and actual results could differ
materially from the information provided in this statement.
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.

2.  These financial statements were prepared using certain
assumptions and estimates, including the estimated amount payable
to the California Department of Water Resources (DWR) for the
estimated amount of power purchased by the DWR on behalf of
retail customers based on approximately 10 cents per kilowatt
hour (kWh).  The Utility acts solely as a billing agent for the
DWR.  While the rate freeze is in effect, to the extent revenue
is allocable to the DWR, there will be a corresponding reduction
in the Utility's revenues.  Therefore, the amounts paid to the
DWR for deliveries are not recorded as expense and the revenue
billed by the Utility to its customers associated with this
energy is excluded from revenues.  These assumptions and
estimates are subject to revision and actual results could differ
materially from the information provided in this statement.

The results for the month of July 2001 are not indicative of
future earnings.  While the rate freeze is in effect, earnings
could differ materially as a result of the implementation of the
DWR's revenue requirements when and if adopted by the California
Public Utilities Commission  (CPUC).  The DWR has provided the
following revenue requirement request to the CPUC for 2001 and
2002, by quarter, based on the DWR's projected retail sales to
the Utility's customers:

			    2001	    2002
			------------	------------
1st Quarter	 	$ 542,003,000	$691,501,000
2nd Quarter		1,319,835,000	 452,819,000
3rd Quarter	 	  719,188,000	 639,895,000
4th Quarter	 	  780,906,000	 781,635,000

Further, the income statement does not reflect the CPUC's
proposal, announced at a press conference on August 27, 2001, to
increase the amount of the allocation of the DWR revenue
requirement to be collected from the Utility's customers as
compared to the amount contained in its most recent request
submitted to the CPUC.

3. Items impacting comparability for the month ended July 31,
2001, (net of taxes):

					(in millions of dollars)
					       After-Tax
Generation Regulatory Asset Valuation Reserve	 (267)
California Tax Adjustment			  (12)
Interest Expense				   16
Other	 					   14
- ---------------------------------------------	-----
     Total					$(249)


4. Case to date results reflect the entire four month period
ended July 31, 2001.  The bankruptcy petition date is April 6,
2001.