PRESS RELEASES 2006
                   
                  FOR IMMEDIATE RELEASE
                  December 11, 2006
                  ISSUED BY:   PG&E Corporation, 1-800-743-6397

                  PG&E CORPORATION AND PACIFIC GAS AND ELECTRIC COMPANY TO WITHDRAW PACIFIC EXCHANGE LISTINGS, RETAIN NYSE AND AMEX LISTINGS

                  (San Francisco) – PG&E Corporation (NYSE: PCG) today announced that it plans to voluntarily withdraw its common stock from listing on NYSE Arca, Inc., formerly the Pacific Exchange. The company's common stock will continue to be listed on the New York Stock Exchange.

                  Earlier this year, the New York Stock Exchange acquired the Pacific Exchange as a result of the NYSE Group’s merger with Archipelago Holdings. The company’s decision to voluntarily withdraw its listing from NYSE Arca, Inc. was made to eliminate duplicative costs and administrative requirements inherent with dual listings. The withdrawal is expected to be effective within the next month.

                  In addition, PG&E Corporation’s utility unit, Pacific Gas and Electric Company, will voluntarily withdraw the listing of its preferred stock from NYSE Arca, Inc. to also eliminate dual listings. The preferred stock will continue to be listed on the American Stock Exchange.

                  PG&E Corporation and Pacific Gas and Electric Company do not believe that withdrawing these listings from NYSE Arca, Inc. will have any impact on the liquidity of their securities. The NYSE Arca, Inc. will continue trading these securities on an unlisted trading privilege basis.

                  PG&E Corporation’s common stock trades under the symbol PCG. Pacific Gas and Electric Company’s preferred stock consists of the following series:

                  First Preferred Stock, $25
                  Par Value
                  Stock Symbol
                  Redeemable  
                  5.00% PacGE pfD
                  5.00% Series A PacGE pfE
                  4.80% PacGE pfG
                  4.50% PacGE pfH
                  4.36% PacGE pfI
                  Non-Redeemable  
                  6.00% PacGE pfA
                  5.50% PacGE pfB
                  5.00% PacGE pfC

                   


                   

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