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
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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)
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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.
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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
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CHRISTOPHER P. JOHNS
Vice President and Controller
PACIFIC GAS AND ELECTRIC COMPANY
By KENT M. HARVEY
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KENT M. HARVEY
Senior Vice President, Treasurer, Chief
Financial Officer, and Controller
Dated: June 9, 2000
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