EXHIBIT 23.2 CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS As independent public accountants, we hereby consent to the incorporation of our report dated February 8,1999, incorporated by reference in this Form 10-K, into the Company's previously filed registration statements as follows: (1) PG&E Corporation's Form S-3 Registration Statement File No. 333-16255 (relating to PG&E Corporation's Dividend Reinvestment Plan); (2) Pacific Gas and Electric Company's Form S-3 Registration Statement File No. 33-64136 (relating to $2,000,000,000 aggregate principal amount of Pacific Gas and Electric Company's First and Refunding Mortgage Bonds and Medium-Term Notes); (3) Pacific Gas and Electric Company's Form S-3 Registration Statement File No. 33-50707 (relating to $1,500,000,000 aggregate principal amount of Pacific Gas and Electric Company's First and Refunding Mortgage Bonds); (4) Pacific Gas and Electric Company's Form S-3 Registration Statement File No. 33-62488 (relating to 10,000,000 shares of Pacific Gas and Electric Company's Redeemable First Preferred Stock); (5) Pacific Gas and Electric Company's Form S-3 Registration Statement File No. 33-61959 (relating to $335,000,000 aggregate liquidation value of Cumulative Quarterly Income Preferred Securities); (6) PG&E Corporation's Form S-8 Registration Statement File No. 333-16253 (relating to PG&E Corporation's Long-Term Incentive Program); (7) PG&E Corporation's Form S-3 Registration Statement File No. 333- 25685 (relating to the resale of PG&E Corporation shares held by certain shareholders); (8) PG&E Corporation's Post- Effective Amendment on Form S-8 to Form S-4 Registration Statement File No. 333- 27015 (relating to Valero Energy Corporation Stock Option Plan No. 4, Valero Energy Corporation Stock Option Plan No. 5, and Valero Energy Corporation Executive Stock Incentive Plan); (9) PG&E Corporation's Form S-8 Registration Statement File No. 333-68155 (relating to PG&E Gas Transmission, Northwest Corporation Savings Fund Plan for Non- Management Employees); (10) PG&E Corporation's Form S-8 Registration Statement File No. 333-77145 (relating to the PG&E Corporation Retirement Savings Plan); (11) PG&E Corporation's Form S-8 Registration Statement File No. 333-77149 (relating to PG&E Corporation's Long- Term Incentive Program) and (12) PG&E Corporation's Form S-8 Registration Statement File No. 333-46772 (relating to Pacific Gas and Electric Company Savings Fund Plan for Union-Represented Employees). ARTHUR ANDERSEN LLP San Francisco, California April 11, 2001