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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 DFYGYcKTdxIJecbanqzt2lcroRxh/akhy0+RQG1iiUSw8EBnZh54b3pDBAw/i0Mn
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<SEC-DOCUMENT>0000806085-96-000131.txt : 19960911
<SEC-HEADER>0000806085-96-000131.hdr.sgml : 19960911
ACCESSION NUMBER:		0000806085-96-000131
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19960910
SROS:			NASD

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PACIFIC GAS & ELECTRIC CO
		CENTRAL INDEX KEY:			0000075488
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				940742640
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-32176
		FILM NUMBER:		96627888

	BUSINESS ADDRESS:	
		STREET 1:		77 BEALE ST
		STREET 2:		P O BOX 770000 MAIL CODE B7C
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94177
		BUSINESS PHONE:		4159737000

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEHMAN BROTHERS HOLDINGS INC
		CENTRAL INDEX KEY:			0000806085
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				133216325
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		AMERICAN EXPRESS TWR
		STREET 2:		3 WORLD FINANCIAL CNTR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10048
		BUSINESS PHONE:		2125267000

	MAIL ADDRESS:	
		STREET 1:		AMERICAN EXPRESS TOWER 15TH FL
		STREET 2:		2 WORLD TRADE CENTER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10048

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SHEARSON LEHMAN HUTTON HOLDINGS INC
		DATE OF NAME CHANGE:	19901017
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<DESCRIPTION>PACIFIC GAS AND ELECTRIC COMPANY AMENDMENT NO. 1
<TEXT>


                          Lehman Brothers Holdings Inc.
                       3 World Financial Center, 24th Floor
                                New York, NY 10285


                          OFFICE OF THE GENERAL COUNSEL


                                                 September 10, 1996


Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549

Attn:  Document Control--EDGAR

                             Re: SCHEDULE 13G Amendment No. 1


Dear Commissioner:

         On behalf of Lehman Brothers  Holdings Inc. (the  "Reporting  Person"),
submitted in electronic form for filing, is an Amendment No. 1 to a Schedule 13G
relating to the Reporting Person's ownership of 6.57% Redeemable First Preferred
Stock of Pacific Gas and Electric Company.


         If you have any questions  regarding  this filing,  please  contact the
undersigned at (212) 526-1911.


                                                 Very truly yours,

                                                 /s/ Karen C. Manson
                                                 ------------------
                                                 Karen C. Manson
                                                 Vice President
                                                 Secretary


Enclosure

cc:   Pacific Gas and Electric Company
      National Association of Securities Dealers, Inc.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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