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: July 28, 2000
Exact Name of
Commission Registrant State or other IRS Employer
File as specified Jurisdiction of Identification
Number in its charter Incorporation Number
----------- -------------- --------------- --------------
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
Pacific Gas and Electric Company's 2001 Attrition Rate Adjustment
Application
On July 27, 2000, PG&E Corporation's utility subsidiary, Pacific Gas and
Electric Company (Utility), filed an application with the California Public
Utilities Commission (CPUC) requesting to increase its 2001 electric
distribution revenues by $189 million, effective January 1, 2001, under the
Attrition Rate Adjustment (ARA) mechanism approved in the 1999 General Rate
Case (GRC) decision. (The CPUC did not approve the Utility's request for a
2000 ARA.) The Utility is not requesting an increase in gas distribution
revenues in its 2001 ARA.
During the period between GRCs, the Utility's overall costs of providing
distribution services typically continue to increase due to inflation and
the growth in capital investments necessary to serve customers. The ARA is
a streamlined mechanism to provide an increase in revenues to recognize the
effects of these costs and to give the Utility a fair opportunity to earn
the return on its distribution rate base that the CPUC has authorized.
As required by the GRC decision, the revenue increase requested in the ARA
application is calculated based on recorded, as opposed to GRC-authorized,
distribution capital spending in 1999. The 1999 GRC decision also ordered
that the CPUC oversee an audit of the Utility's 1999 distribution capital
spending. The 2001 ARA may be subject to modification to take into account
the results of the audit. The audit is not expected to be completed before
November 15, 2000.
The Utility has requested expedited treatment of the application and has
proposed a schedule that allows a decision to be issued before January 1,
2001. The Utility has requested that its application be resolved without
evidentiary hearings.
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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 LESLIE H. EVERETT
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LESLIE H. EVERETT
Vice President and Corporate
Secretary
Dated: July 28, 2000
