Debt	6 Months Ended
Jun. 30, 2012
Debt	NOTE 4: DEBT Revolving Credit Facilities – PG&E Corporation and the Utility At June 30, 2012, PG&E Corporation had no cash borrowings or letters of credit outstanding under its $300 million revolving credit facility. At June 30, 2012, the Utility had no cash borrowings and $363 million of letters of credit outstanding under its $3.0 billion revolving credit facility. Utility *Senior Notes* On April 16, 2012, the Utility issued $400 million principal amount of 4.45% Senior Notes due April 15, 2042. *Pollution Control Bonds* At June 30, 2012, the interest rates on the $614 million principal amount of pollution control bonds Series 1996 C, E, F, and 1997 B and the related loan agreements ranged from 0.14% to 0.23%. At June 30, 2012, the interest rates on the $309 million principal amount of pollution control bonds Series 2009 A-D and the related loan agreements ranged from 0.13% to 0.15%. On April 2, 2012, the Utility repurchased the entire $50 million principal amount of pollution control bonds Series 2010 E that were subject to mandatory tender on that same date. The Utility will hold the bonds until they are remarketed to investors or retired. *Commercial Paper Program* At June 30, 2012, the Utility had $825 million of commercial paper outstanding. *Other Short-Term Borrowings* At June 30, 2012, the interest rate on the Utility’s $250 million principal amount of Floating Rate Senior Notes, due November 20, 2012, was 0.92%. *Energy Recovery Bonds* In 2005, PERF issued two separate series of ERBs to refinance a regulatory asset provided for in the Chapter 11 Settlement Agreement. PERF used the proceeds to purchase from the Utility the right (known as “recovery property”) to be paid a specified amount collected through the Utility’s electric rates. The Utility remits the amount collected to PERF for payment of principal, interest, and miscellaneous expenses associated with the ERBs. The Utility will no longer collect the electric rate component related to the ERBs after they mature, which will occur by December 31, 2012. At June 30, 2012, the total amount of ERB principal outstanding was $223 million. While PERF is a wholly owned consolidated subsidiary of the Utility, it is legally separate from the Utility. The assets, including the recovery property, of PERF are not available to creditors of the Utility or PG&E Corporation, and the recovery property is not legally an asset of the Utility or PG&E Corporation.

NOTE 4: DEBT

Revolving Credit Facilities – PG&E Corporation and the Utility

At June 30, 2012, PG&E Corporation had no cash borrowings or letters of credit outstanding under its $300 million revolving credit facility.

At June 30, 2012, the Utility had no cash borrowings and $363 million of letters of credit outstanding under its $3.0 billion revolving credit facility.

Utility

Senior Notes

On April 16, 2012, the Utility issued $400 million principal amount of 4.45% Senior Notes due April 15, 2042.

Pollution Control Bonds

At June 30, 2012, the interest rates on the $614 million principal amount of pollution control bonds Series 1996 C, E, F, and 1997 B and the related loan agreements ranged from 0.14% to 0.23%. At June 30, 2012, the interest rates on the $309 million principal amount of pollution control bonds Series 2009 A-D and the related loan agreements ranged from 0.13% to 0.15%.

On April 2, 2012, the Utility repurchased the entire $50 million principal amount of pollution control bonds Series 2010 E that were subject to mandatory tender on that same date. The Utility will hold the bonds until they are remarketed to investors or retired.

Commercial Paper Program

At June 30, 2012, the Utility had $825 million of commercial paper outstanding.

Other Short-Term Borrowings

At June 30, 2012, the interest rate on the Utility’s $250 million principal amount of Floating Rate Senior Notes, due November 20, 2012, was 0.92%.

Energy Recovery Bonds

In 2005, PERF issued two separate series of ERBs to refinance a regulatory asset provided for in the Chapter 11 Settlement Agreement. PERF used the proceeds to purchase from the Utility the right (known as “recovery property”) to be paid a specified amount collected through the Utility’s electric rates. The Utility remits the amount collected to PERF for payment of principal, interest, and miscellaneous expenses associated with the ERBs. The Utility will no longer collect the electric rate component related to the ERBs after they mature, which will occur by December 31, 2012.

At June 30, 2012, the total amount of ERB principal outstanding was $223 million.

While PERF is a wholly owned consolidated subsidiary of the Utility, it is legally separate from the Utility. The assets, including the recovery property, of PERF are not available to creditors of the Utility or PG&E Corporation, and the recovery property is not legally an asset of the Utility or PG&E Corporation.