EXHIBIT 12.2
PACIFIC GAS AND ELECTRIC COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS


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                             Three Months                    Year ended December 31,
                               ended         -------------------------------------------------------
(dollars in millions)       March 31, 1998    1997         1996        1995        1994        1993
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Earnings:
  Net income                      $ 155     $   768     $   755     $ 1,339     $ 1,007     $ 1,065   
Adjustments for minority
    interests in losses of
    less than 100% owned
    affiliates and the
    Company's equity in
    undistributed losses
    (income) of less than
    50% owned affiliates              -           -           3           4          (3)          7      
  Income tax expense                144         609         555         895         837         902    
  Net fixed charges                 180         628         683         716         729         775    
                               --------    --------    --------    --------    --------    --------  
      Total Earnings              $ 479     $ 2,005     $ 1,996     $ 2,954     $ 2,570     $ 2,749  
                               ========    ========    ========    ========    ========    ========  
Fixed Charges:
  Interest on long-
    term debt, net                $ 156     $   485     $   574     $   616     $   639     $   652  
  Interest on short-
    term borrowings                  14         101          75          83          77          88      
  Interest on capital leases          -           2           3           3           2           2       
  Capitalized Interest                -           1           1           -           2          46       
  AFUDC Debt                          4          16           7          11          11          33                         
  Earnings required to
    cover the preferred stock
    dividend and preferred 
    security distribution 
    requirements of majority 
    owned trust                       6          24          24           3           -           - 
                               --------    --------    --------    --------    --------    --------
      Total Fixed Charges         $ 180     $   629     $   684     $   716     $   731     $   821
                               --------    --------    --------    --------    --------    --------
Preferred Stock Dividends:
  Tax deductible dividends        $   3     $    10     $    10     $    11     $     5     $     5
  Pretax earnings required
    to cover non-tax
    deductible preferred
    stock dividend
    requirements                      8          39          39         100          96         109
                               --------    --------    --------    --------    --------    --------
    Total Preferred
      Stock Dividends             $  11      $   49     $    49     $   111     $   101     $   114
                               --------    --------    --------    --------    --------    --------
  Total Combined Fixed
    Charges and Preferred 
    Stock Dividends               $ 191      $  678     $   733     $   827     $   832     $   935
                               ========    ========    ========    ========    ========    ========
Ratios of Earnings to
  Combined Fixed Charges and
  Preferred Stock Dividends        2.50        2.96        2.72        3.57        3.09        2.94
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<FN>
Note:  	For the purpose of computing Pacific Gas and Electric Company's ratios of earnings to 
       	combined fixed charges and preferred stock dividends, "earnings" represent net income 
        adjusted for the minority interest in losses of less than 100% owned affiliates, cash 
        distributions from and equity in undistributed income or loss of Pacific Gas and Electric  
        Company's less than 50% owned affiliates, income taxes and fixed charges(excluding  
        capitalized interest).  "Fixed charges" include interest on long-term debt and short-term  
        borrowings (including a representative portion of rental expense), amortization of bond  
        premium, discount and expense, interest on capital leases, interest of subordinated  
        debentures held by trust, and earnings required to cover the preferred stock dividend  
        requirements of majority owned subsidiaries. "Preferred stock dividends" represent pretax 
        earnings which would be required to cover such dividend requirements.