_____________________________________________________________________________________
UNITED
STATES
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: March 2, 2010
(Date of
earliest event reported)
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Commission
File Number
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Exact
Name of Registrant
as
specified in its charter
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State
or Other Jurisdiction of Incorporation or Organization
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IRS
Employer Identification Number
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|||
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1-12609
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PG&E
CORPORATION
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California
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94-3234914
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1-2348
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PACIFIC
GAS AND ELECTRIC COMPANY
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California
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94-0742640
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 |
 |
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One
Market, Spear Tower
Suite
2400
San
Francisco, California 94105
(Address
of principal executive offices) (Zip Code)
(415)
267-7000
(Registrant's
telephone number, including area code)
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77
Beale Street
P.O.
Box 770000
San
Francisco, California 94177
(Address
of principal executive offices) (Zip Code)
(415)
973-7000
(Registrant's
telephone number, including area code)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
Material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17
CFR 240.14d-2(b)
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17
CFR 240.13e-4(c))
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Item
8.01 Other Events
Proposed
Renewable Energy Development
On March
2, 2010, a revised alternate proposed decision was issued that, if approved by
the California Public Utilities Commission (“CPUC”), would authorize PG&E
Corporation’s subsidiary, Pacific Gas and Electric Company (“Utility”) to
develop up to 250 megawatts (“MW”) of renewable generation resources based on
solar photovoltaic (“PV”) technology at an estimated capital cost of
approximately $1.5 billion over five years. The revised alternate
proposed decision recommends that the Utility be authorized to recover its costs
to develop Utility-owned PV generation facilities through traditional
cost-of-service ratemaking that would provide the Utility an opportunity to earn
a rate of return on its capital investment. The revised alternate proposed
decision also would authorize the Utility to conduct an annual request for
offers (“RFO”) during each year of the five-year program to enter into power
purchase agreements for up to an additional 250 MW of PV generation to be
developed by independent power producers. As previously disclosed, on January
26, 2010, a proposed decision and an alternate proposed decision were issued
that would authorize the Utility to recover its costs based on the weighted
average price of the winning bids received in response to the Utility’s annual
RFO, subject to an overall price cap. If either of the proposed
decisions issued on January 26, 2010 were adopted by the CPUC, the Utility’s
cost recovery would depend on the amount of power produced by the Utility-owned
PV facilities and the applicable weighted average price of winning bids. The
Utility would decide each year whether to build Utility-owned PV facilities
after the applicable weighted average winning bid price had been
determined.
The CPUC
may adopt one of the proposed decisions or the CPUC may adopt a final decision
that differs from the proposed decisions. It is uncertain when the
CPUC will issue a final decision.
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SIGNATURES
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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.
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PG&E
CORPORATION
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Dated: March
3, 2010
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By:
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LINDA
Y.H. CHENG
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LINDA
Y.H. CHENG
Vice
President, Corporate Governance and Corporate Secretary
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PACIFIC
GAS AND ELECTRIC COMPANY
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Dated: March
3, 2010
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By:
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LINDA
Y.H. CHENG
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LINDA
Y.H. CHENG
Vice
President, Corporate Governance and Corporate
Secretary
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