PG&E

Corporation

®

Power & Gas Leaders Conference
Bank of America - Merrill Lynch
September 28, 2010

Kent Harvey
Chief Financial Officer, PG&E Corporation

This presentation is not complete without the accompanying statements made by management on September 28, 2010.

A replay is available on PG&E Corporation’s homepage at www.pge-corp.com

 Exhibit 99

2

Summary of Accident

Rupture of 30-inch gas transmission line
Explosion and fire occurred

7 confirmed fatalities

6 serious injuries

37 homes destroyed

18 homes with major damage

3

Immediate Response

“If it is ultimately determined that we were responsible for the cause
of the incident, we will take accountability.”

Assistance to first responders making the area safe

Temporary housing and other immediate needs

Financial assistance including prepaid debit cards

$1 million donation to local non-profit recovery efforts

4

Rebuild San Bruno Fund

Relief fund for up to $100 million:

Address expenses for impacted residents not covered
by insurance or not yet available

Restore the community by rebuilding or replacing
public property

Pay for certain costs incurred by emergency
responders and government services

5

Insurance Coverage

Liability insurance coverage:$992 million

Deductible:$10 million

Expect liability insurance to be sufficient
for all covered claims

6

Pipeline Safety Program

Transmission Lines

•6,400 miles

•Surveyed for leaks annually

•Regular integrity assessments
(e.g. in-line investigation or
direct assessment)

•San Bruno segment surveyed
for integrity in November 2009
and for leaks in March 2010

Distribution Lines

•42,100 miles

•Surveyed every 5 years

•3 year accelerated
survey complete in 2010

•San Bruno area last
surveyed in June 2008

7

Post-Event Actions

For all transmission lines in the area:

• Reduced operating pressure by 20%

• Resurveyed for leaks

Resurveyed distribution system in San Bruno for leaks

8

What Happens Next - NTSB

NTSB will investigate, determine cause, and issue
recommendations

Investigations typically take more than a year

NTSB has said it will expedite its investigation

NTSB to review:Physical evidence
Integrity management
Employee performance
Emergency response

9

What Happens Next - CPUC

CPUC will establish independent review panel to:

•Investigate San Bruno accident

•Evaluate safety of gas transmission lines

•Make recommendations to CPUC

Response to earlier CPUC requests underway

10

Financial Impact

Developing an initial estimate of costs

Charge to GAAP income expected in Q3 2010

Insurance recoveries expected to be
recorded in the future

11

Conclusion

Fully cooperating with regulators
to determine cause

Working to assure customers of
system safety

Supporting the recovery effort in
San Bruno