PRESS RELEASES 2005
                   
                  FOR IMMEDIATE RELEASE
                  December 21, 2005
                  ISSUED BY:   PG&E Corporation, 1-800-743-6397

                  PG&E CORP. DECLARES QUARTERLY COMMON STOCK DIVIDEND; UTILITY DECLARES PREFERRED STOCK DIVIDENDS

                  (San Francisco) ?PG&E Corporation (NYSE: PCG) today declared a fourth quarter 2005 regular cash dividend of 33 cents per share on the Corporation’s common stock, which reflects a 10 percent increase over the third quarter dividend. The increase brings the company's annual target common stock dividend to $1.32 per share. The fourth quarter dividend is payable on January 16, 2006, to shareholders of record on December 30, 2005.

                  In addition, PG&E Corporation’s utility unit, Pacific Gas and Electric Company, today declared dividends on all outstanding series of Pacific Gas and Electric Company’s preferred stock for the three months ending January 31, 2006. The dividends will be payable on February 15, 2006, to shareholders of record on January 31, 2006.

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

                  Pacific Gas and Electric Company will pay dividends on its 8 series of preferred stock as follows:

                  First Preferred Stock, $25 Par Value Quarterly Dividend to be Paid Per Share
                  Redeemable  
                  5.00% $0.3125000
                  5.00% Series A $0.3125000
                  4.80% $0.3000000
                  4.50% $0.2812500
                  4.36% $0.2725000
                  Non-Redeemable  
                  6.00% $0.3750000
                  5.50% $0.3437500
                  5.00% $0.3125000

                   

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