FOR IMMEDIATE RELEASE

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 16, 2004



Commission
File
Number

Exact Name of
Registrant
as specified in
its charter


State or other
Jurisdiction of
Incorporation


IRS Employer
  Identification
Number

_____________

_____________

_____________

_____________

1-12609

1-2348

PG&E Corporation

Pacific Gas and
Electric Company

California

California

94-3234914

94-0742640

Pacific Gas and Electric Company
77 Beale Street, P. O. Box 770000
San Francisco, California  94177

PG&E Corporation
One Market, Spear Tower, Suite 2400
San Francisco, California  94105

(Address of principal executive offices) (Zip Code)


Pacific Gas and Electric Company
(415) 973-7000

PG&E Corporation
(415) 267-7000

(Registrant's telephone number, including area code)


Item 5.  Other Events

          At its meeting on March 16, 2004, the California Public Utilities Commission (CPUC) announced that it had denied the applications for rehearing of the CPUC’s December 18, 2003 decision approving the settlement agreement entered into among Pacific Gas and Electric Company (Utility), PG&E Corporation and the CPUC on December 19, 2003  (Settlement Agreement) to resolve the Utility’s Chapter 11 proceeding pending in the U.S. Bankruptcy Court for the Northern District of California.  The Settlement Agreement is incorporated into the Utility’s confirmed plan of reorganization.

           Separate applications for rehearing had been filed by the City of Palo Alto, the City and County of San Francisco (CCSF), and Aglet Consumer Alliance (Aglet).   CCSF, Aglet, and the CPUC’s Office of Ratepayer Advocates, or ORA (an independent office within the CPUC) also had filed a joint application for rehearing.  Within thirty days after the CPUC issues its rehearing decision, one or more of the applicants may seek judicial review of the CPUC’s denial of their applications by filing a petition with either a California court of appeal or the California Supreme Court. 

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

                                                                     

        LINDA Y.H. CHENG

                                                                     

       Linda Y.H. Cheng
       Corporate Secretary

                                                                     

PACIFIC GAS AND ELECTRIC COMPANY

                                                                     

         LINDA Y.H. CHENG

                                                                     

       Linda Y.H. Cheng
       Corporate Secretary

Dated:  March 16, 2004