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 26, 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) 973-700
Item 5. Other Events
A. Diablo Canyon Outage
Under the Diablo Canyon rate case settlement (Diablo Settlement),
revenues for the Company's Diablo Canyon Nuclear Power Plant (Diablo
Canyon) are based primarily on the amount of electricity generated by
the plant. Accordingly, the Company will report significantly lower
revenues for Diablo Canyon during any extended outages, including
refueling outages. Under the current pricing provided in the Diablo
Settlement, each Diablo Canyon operating unit contributes
approximately $2.9 million in revenues per day at full operating power
in 1995, and $2.7 million per day in 1996.
On September 30, 1995, the Company commenced a scheduled refueling
outage at Unit 1, which was budgeted to last 45 days. On October 21,
1995, an electrical short occurred in Unit 1, causing a transformer to
catch fire. The Company is currently assessing its options in respect
of repairing or replacing the damaged transformer and at this time it
is uncertain as to the extent of the delay in restarting Unit 1.
Under the various options being considered, the ongoing outage at
Unit 1 could extend from 5 to 75 days beyond its current 45-day
scheduled duration. As a result, the Company believes that there may
be a significant adverse impact on its results of operations.
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 26, 1995
