PRESS RELEASES 2007
                 
                FOR IMMEDIATE RELEASE
                February 22, 2007
                ISSUED BY:   PG&E Corporation, 1-800-743-6397

                PACIFIC GAS AND ELECTRIC COMPANY DECLARES PREFERRED STOCK DIVIDENDS

                ( San Francisco) – Pacific Gas and Electric Company declared dividends on all outstanding series of its preferred stock for the three months ending April 30, 2007. The dividends will be payable on May 15, 2007, to shareholders of record on April 30, 2007.

                In order to be considered a shareholder of record for the preferred dividend payments, investors must have purchased the stock at least three trading days before the applicable record date.

                Pacific Gas and Electric Company will pay dividends on its eight series of preferred stock as follows:

                First Preferred Stock, $25 Par Value Quarterly Dividend to be Paid Per Share
                Redeemable  
                5.00% $0.31250
                5.00% Series A $0.31250
                4.80% $0.30000
                4.50% $0.28125
                4.36% $0.27250
                Non-Redeemable  
                6.00% $0.37500
                5.50% $0.34375
                5.00% $0.31250

                 

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