FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility
Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer
subject to Section 16. Form 4 or
Form 5 obligations may continue.
See Instruction 1(b).

(Print or Type Responses)

1. Name and Address of Reporting Person*          

^{Biller                   Leslie               S.}

2. Issuer Name and Ticker or Trading Symbol

PG&E Corporation (PCG) 

6. Relationship of Reporting Person(s) to Issuer
                  (Check all applicable)

   X

Director

10% Owner

Officer (give
title below)

Other (specify
below)

(Last)                    (First)                (Middle)

^{10877 Wilshire Boulevard, 17th Floor}

3. I.R.S. Identification
   Number of Reporting
   Person, if an entity
   (Voluntary)

4. Statement for
    Month/Day/Year

04-15-2003

7. Individual or Joint/Group Filing (Check Applicable Line)

5. If Amendment,
    Date of Original
    (Month/Day/Year)

 X 

Form filed by One Reporting Person

(Street)
Los Angeles           CA                90024

Form filed by More than One Reporting Person

(City)                      (State)                  (Zip)

Table I  ¾ Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security
    (Instr. 3)

2. Trans-
    action
    Date



  (Month/
    Day/
   Year)

2A.
Deemed
Execution
Date, if
any

  (Month/
    Day/
   Year)

3. Trans-
    action
    Code
    (Instr.8)

4. Securities Acquired (A)
    or Disposed of (D)
    (Instr. 3, 4 and 5)

5. Amount of
    Securities
    Beneficially
    Owned
    Following
    Reported
    Transaction(s)

    (Instr. 3 and 4)

6. Owner-
    ship
    Form:
    Direct
    (D) or
    Indirect
    (I)

  (Instr. 4)

7. Nature of
    Indirect
    Beneficial
    Owner-
    ship



    (Instr. 4)

Code

V

Amount

(A)
or
(D)

Price

Common Stock

(No reportable transactions)

684

I

Held by Biller Revocable Trust

⁽¹⁾Restricted shares granted under the PG&E Corporation Non-Employee Director Stock Incentive Plan.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

*

If the form is filed by more than one reporting person, see Instruction 4(b)(v).

Persons who respond to the collection of information contained
in this form are not required to respond unless the form displays
a currently valid OMB control number.

(Over)
SEC 1474 (9-02)

FORM 4 (continued)

Table II  ¾ Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative
    Security
    (Instr. 3)

2. Conver-
    sion or
    Exercise
    Price of
    Deri-
    vative
   Security

3. Trans-
    action
    Date

(Month/
 Day/
Year)

3A.
Deemed
Execution
Date, if
any

  (Month/
   Day/
  Year)

4. Trans-
    action
    Code
    (Instr.8)

5. Number of Deriv-
    ative Securities Ac-
    quired (A) or Dis-
    posed of (D)
    (Instr. 3, 4 and 5)

6. Date Exer-
    cisable and
    Expiration
    Date
    (Month/Day/
    Year)

7. Title and Amount of
    Underlying Securities
    (Instr. 3 and 4)

8. Price
    of
    Deriv-
    ative
    Secur-
    ity
    (Instr.
    5)

9. Number
   of deriv-
   ative
   Secur-
   ities
   Bene-
   ficially
   Owned
   Follow-
   ing
   Reported
   Trans-
   action(s)
   (Instr. 4)

10. Owner-
     ship
     Form of
     Deri-
     vative
     Security:
     Direct
     (D) or
     Indirect
     (I)
     (Instr. 4)

11. Nature
     of
     Indirect
     Benefi-
     cial
     Owner-
     ship
     (Instr. 4)

Code

V

(A)

(D)

Date
Exer-
cisable

Expira-
tion
Date

Title

Amount or
Number of
Shares

Phantom Stock

1 for 1

04-15-03

A

74.712⁽¹⁾

(2)

(2)

Common Stock

74.712

$13.3848

74.712

D

Explanation of Responses:

Phantom stock acquired upon deferral of compensation under the Deferred Compensation Plan for Non-Employee Directors; exempt under Rule 16b-3(d). 

Phantom stock is payable in accordance with the terms of the Deferred Compensation Plan for Non-Employee Directors. 

04-17-2003 

**

Intentional misstatements or omissions of facts constitute Federal Criminal Violations.

**Signature of Reporting Person

Date

See18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient,
         see Instruction 6 for procedure.

Eric Montizambert, Attorney-in-Fact

For Leslie S. Biller

(Signed Power of Attorney on file with SEC)

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number.

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