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: May 10, 2006
(Date
of
earliest event reported)
|
Commission
File Number
|
Exact
Name of Registrant
as
specified in its charter
|
State
or Other Jurisdiction of Incorporation or
Organization
|
IRS
Employer Identification Number
|
|||
|
1-12609
|
PG&E
CORPORATION
|
California
|
94-3234914
|
|||
|
1-2348
|
PACIFIC
GAS
AND ELECTRIC COMPANY
|
California
|
94-0742640
|
 |
 |
|
|
PG&E
Corporation
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)
|
Pacific
Gas and Electric Company
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)
|
|
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):
|
o
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
|
|
o
|
Soliciting
Material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17
CFR 240.14d-2(b)
|
|
|
o
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17
CFR 240.13e-4(c))
|
Item
7.01
Regulation FD Disclosure
The
information included in this Current Report on Form 8-K, including Exhibit
99,
is being furnished, not filed, pursuant to Item 7.01 of Form 8-K.
On
May
10, 11, and 12, 2006, members of PG&E Corporation’s management will
participate in panel discussions and meetings during the Goldman Sachs
6th
Annual
Power and Utility Conference, at which the materials attached hereto as Exhibit
99 will be used.
The
materials attached as Exhibit 99 contain forward-looking statements regarding
management’s guidance for PG&E Corporation’s 2006 and 2007 earnings per
share from operations, capital expenditures, Pacific Gas and Electric Company’s
(Utility) rate base and rate base growth, anticipated costs and benefits
from
various initiatives to improve business processes, anticipated electric
resources, and targeted average annual growth rate for PG&E Corporation’s
earnings per share from operations, over the 2006-2010 period. These statements
are based on current expectations and various assumptions which management
believes are reasonable, including that substantial capital investments are
made
in Utility business over the 2006-2010 period and that the Utility earns
an
authorized return on equity of 11.35%. These statements and assumptions are
necessarily subject to various risks and uncertainties, the realization or
resolution of which are outside of management's control. Actual results may
differ materially. Factors that could cause actual results to differ materially
include:
|
—
|
Unanticipated
changes in operating expenses or capital expenditures, which may
affect
the Utility’s ability to earn its authorized rate of return;
|
|
—
|
How
the Utility manages its responsibility to procure electric capacity
and
energy for its customers;
|
|
—
|
The
adequacy and price of natural gas supplies, and the ability of
the Utility
to manage and respond to the volatility of the natural gas market
for its
customers;
|
|
—
|
The
operation of the Utility’s Diablo Canyon nuclear power plant, which could
cause the Utility to incur potentially significant environmental
costs and
capital expenditures, and the extent to which the Utility is able
to
timely increase its spent nuclear fuel storage capacity at Diablo
Canyon;
|
|
—
|
Whether
the Utility is able to recognize the anticipated cost benefits
and savings
to result from its efforts to improve customer service through
implementation of specific initiatives to streamline business processes
and deploy new technology;
|
|
—
|
The
outcome of proceedings pending at the Federal Energy Regulatory
Commission
and the California Public Utilities Commission (CPUC), including
the
Utility’s 2007 General Rate Case and the CPUC’s pending investigation into
the Utility’s billing and collection practices;
|
|
—
|
How
the CPUC administers the capital structure, stand-alone dividend,
and
first priority conditions of the CPUC’s decisions permitting the
establishment of holding companies for the California investor-owned
electric utilities, and the outcome of the CPUC's new rulemaking
proceeding concerning the relationship between the California
investor-owned energy utilities and their holding companies and
non-regulated affiliates;
|
|
—
|
The
impact of the recently adopted Energy Policy Act of 2005 and future
legislative or regulatory actions or policies affecting the energy
industry;
|
|
—
|
Increased
municipalization and other forms of bypass in the Utility’s service
territory; and
|
|
—
|
Other
factors discussed in PG&E Corporation's and Pacific Gas and Electric
Company’s SEC reports.
|
Item
9.01
Financial Statements and Exhibits
Exhibits
The
following exhibits are being furnished, and are not deemed to be filed:
Exhibit
99: PG&E
Corporation’s Materials Used at the Goldman Sachs 6th Annual Power and Utility
Conference, Las Vegas, Nevada, May 10-12, 2006
-2-
|
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:
|
LINDA
Y.H. CHENG
|
|
|
LINDA
Y.H. CHENG
Vice
President, Corporate Governance and Corporate Secretary
|
||
|
PACIFIC
GAS AND ELECTRIC COMPANY
|
||
|
By:
|
LINDA
Y.H. CHENG
|
|
|
LINDA
Y.H. CHENG
Vice
President, Corporate Governance and Corporate
Secretary
|
||
Dated: May
10,
2006