| Issuer: | Pacific Gas and Electric Company | |
| Security: | 5.625% Senior Notes Due November 30, 2017 (the “2017 Notes”) | |
| Size: | $200,000,000 | |
| The 2017 Notes will be part of the same series of notes as $500,000,000 principal amount of 5.625% Senior Notes due November 30, 2017 offered and sold by our prospectus supplement dated November 28, 2007 and the accompanying prospectus. | ||
| Maturity Date: | November 30, 2017 | |
| Coupon: | 5.625% | |
| Interest Payment Dates: | May 30 and November 30, commencing May 30, 2008 | |
| Price to Public: | 101.550% | |
| The above issue price does not include accrued interest from December 4, 2007 to Settlement Date totaling $2,781,250 in the aggregate for the 2017 Notes. | ||
| Benchmark Treasury: | 3.50% due February 15, 2018 | |
| Benchmark Treasury Yield: | 3.867% | |
| Spread to Benchmark Treasury: | +155 basis points | |
| Yield: | 5.417% | |
| Optional Redemption: | Make-Whole Call at Treasuries plus 30 basis points | |
| Expected Settlement Date: | March 3, 2008 | |
| CUSIP: | 694308 GL5 | |
| Anticipated Ratings: | A3 by Moody’s Investors Service, Inc. BBB+ by Standard & Poor’s Ratings Services | |
| Joint Book-Running Managers: | Goldman, Sachs & Co. Lehman Brothers Inc. UBS Securities LLC | |
| Co-Managers: | Mizuho Securities USA Inc. Blaylock Robert Van, LLC CastleOak Securities L.P. | |
