PG&E FUNDING LLC
8-K/A, 1999-06-14
ASSET-BACKED SECURITIES
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               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

                      _____________________

                           FORM 8-K/A

                       AMENDMENT NO. 1 TO
                         CURRENT REPORT
             PURSUANT TO SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934



                    Date of Report/Amendment

                          June 11, 1999
           (to Current Report dated February 17, 1999)

     CALIFORNIA INFRASTUCTURE AND ECONOMIC DEVELOPMENT BANK
                  SPECIAL PURPOSE TRUST PG&E-1
                  (Issuer of the Certificates)

                        PG&E FUNDING LLC
       (Exact name of registrant as specified in charter)



Delaware                 333-30715                    94-3274751

(State of           (Commission File Number)         (IRS Employer
 incorporation)                                   Identification No.)


 245 Market Street, Room 424
 San Francisco, California                                94105

(Address of principal executive offices)               (Zip Code)


                            (415) 972-5467

                 (Registrant's telephone number,
                      including area code)

                               N/A

  (Former name or former address, if changed since last report)

<PAGE>

The registrant's Current Report on Form 8-K dated February 17,
1999, is amended in its entirety as follows:

Item 4.  Changes in Registrant's Certifying Accountant

PG&E Funding LLC is a special purpose, single member limited
liability company organized under the laws of the State of
Delaware.  Effective February 17, 1999, the Board of Directors of
PG&E Funding LLC declined to reappoint Arthur Andersen LLP
("AA"), as the independent public accountants to examine its
financial statements for fiscal year 1999.  AA's reports on the
financial statements of PG&E Funding LLC for fiscal year 1997 and
1998, did not contain an adverse opinion or a disclaimer of
opinion, nor was qualified or modified as to uncertainty, audit
scope, or accounting principles.  The audit for fiscal year 1998
was completed on March 30, 1999 and filed with the Securities and
Exchange Commission with the registrant's annual report on Form
10-K on March 31, 1999.  During 1997 and 1998 and the subsequent
interim period through March 31, 1999, there were no
disagreements (as such term is defined in instruction 4 to Item
304 of Securities and Exchange Commission Regulation S-K) with AA
on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of AA would
have caused it to make reference to the subject matter of the
disagreement(s) in connection with its report.  Attached hereto
is a copy of a letter from Arthur Andersen LLP to the Securities
and Exchange Commission indicating it agrees with the statements
made in this report.

On February 17, 1999, the Board of Directors of PG&E Funding LLC
selected Deloitte and Touche LLP as the independent public
accountants to examine its financial statements for fiscal year
1999.


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

Exhibit No.                        Description

     16        Letter from Arthur Andersen LLP to Securities and
Exchange Commission

<PAGE>


                            SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.

                                   PG&E FUNDING LLC
                                   (Registrant)


                                     GABRIEL B. TOGNERI

Dated: June 10, 1999               By:
                                   Name: Gabriel B. Togneri
                                   Title: Treasurer

<PAGE>

                          EXHIBIT INDEX



Exhibit No.                        Description

     16        Letter from Arthur Andersen LLP to Securities and
                    Exchange Commission










                                             Exhibit 16

               [LETTERHEAD OF ARTHUR ANDERSEN LLP]



June 10, 1999




Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC  20549

Dear Sir/Madame:

We have read Item 4 included in each Form 8-K/A Amendment No. 1
to the Current Reports on Form 8-K dated February 17, 1999 of
PG&E Corporation, Pacific Gas and Electric Company, PG&E Funding
LLC, and PG&E Gas Transmission, Northwest Corporation, filed with
the Securities and Exchange Commission and are in agreement with
the statements contained therein.

Very truly yours,


ARTHUR ANDERSEN LLP

/S/ARTHUR ANDERSEN LLP


Copy to:  Mr. Bruce R. Worthington, PG&E Corporation



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