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: October 4, 1995
PACIFIC GAS AND ELECTRIC COMPANY
(Exact name of registrant as specified in its charter)
California 1-2348 94-0742640
(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification
Number)
77 Beale Street, P.O.Box 770000, San Francisco, California 94177
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:(415)973-7000
Item 5. Other Events
A. Gas Accord
As previously disclosed, in July 1995, the Company filed a
motion with the California Public Utilities Commission (CPUC)
indicating that the Company intended to engage in settlement
negotiations encompassing both a restructuring of the Company's
gas transmission operations and a broad range of gas related
issues arising from various CPUC proceedings. On October 2,
1995, the Company announced that it had presented a proposal,
called the Gas Accord, to numerous parties active in the
California gas marketplace, including consumer groups,
industrial customers, shippers and marketers. The Company has
invited these parties to join the Company to collaboratively
develop a restructuring of the California gas market.
The Gas Accord consists of three broad initiatives:
- - Increased Customer Choice
Since 1988, large industrial customers have had the option
of buying gas directly from the supplier of their choice,
and only paying the Company for the transmission and
distribution costs. Under the Gas Accord, the Company
proposes to give all customers the ability to choose their
gas suppliers in the future. The Company proposes to
implement a test marketing program with residential and
small business customers and to form an advisory group to
determine the simplest and most effective ways for
residential and small commercial customers (core
customers) to buy gas directly from any supplier.
- - Separation of Transmission and Distribution Rates
The Company proposes to separately charge for, or
"unbundle," its gas transmission and distribution
services. This would give industrial and commercial
customers and gas suppliers more flexibility to buy only
the specific gas transportation services they want or
need.
- - Resolution of Existing Regulatory Issues
The Company also proposes to settle several outstanding
gas regulatory cases that are currently pending at the
CPUC as separate proceedings. These include the
Transwestern Pipeline Capacity case, the Interstate
Transition Cost Surcharge case, and the PG&E Pipeline
Expansion reasonableness proceeding. The Company believes
the ultimate resolution of these proceedings will not have
a significant impact on its financial position or results
of operations.
Negotiations on the Gas Accord will begin in October, 1995. The
Company plans to file a report on the status of those
discussions with the CPUC on November 1, 1995, with a goal of
reaching a collaborative agreement within the next few months.
Any agreement reached by the Company and other parties must be
approved by the CPUC before it could be implemented.
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 thereunto duly authorized.
PACIFIC GAS AND ELECTRIC COMPANY
BRUCE R. WORTHINGTON
By________________________________
BRUCE R. WORTHINGTON
Senior Vice President and
General Counsel
Dated: October 4, 1995
