_____________________________________________________________________________________
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: November 17, 2009
(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
Energy
Efficiency Programs and Incentive Ratemaking
On
November 17, 2009, the administrative law judge presiding over the California
Public Utilities Commission’s (CPUC) energy efficiency incentive ratemaking
proceeding released a proposed decision (PD) that, if adopted by the CPUC, would
award Pacific Gas and Electric Company (Utility) incentive earnings of $14.7
million based on the Utility’s achievement of energy efficiency savings during
the 2006-2008 energy efficiency program period. The PD recommends
that an additional $30.3 million be held back and subject to verification in the
final true-up process to be completed in 2010. In addition, on
November 17, 2009, a CPUC Commissioner released an alternate proposed decision
(APD) that recommends that the Utility be awarded $33.4 million and that an
additional $40.3 million be held back and subject to verification in the final
true-up process to be completed in 2010.
The CPUC
previously awarded the Utility $41.5 million in December 2008 based on the
Utility’s first interim claim for energy efficiency program performance in
2006-2007.
Both the
PD and the APD (1) rely upon data presented in the CPUC’s Energy Division’s
second interim verification report issued on October 15, 2009, (2) decline to
adopt the proposed settlement submitted by the Utility and other parties in May
2009, and (3) recommend a schedule for the 2010 true-up process that
contemplates the release of a proposed decision by July 15, 2010 and a final
decision by mid-September 2010.
Under the
applicable rules, the CPUC must wait at least 30 days, i.e., until December 17,
2009 when the CPUC is scheduled to hold its last meeting in 2009,
before it can approve a final decision.
2
SIGNATURES
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 hereunto
duly authorized.
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PG&E
CORPORATION
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Dated,
November 18, 2009
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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:
November 18, 2009
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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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