fwp
 

Filed Pursuant to Rule 433
Registration No. 333-109994
November 28, 2007
PRICING TERM SHEET
5.625% Senior Notes due November 30, 2017
     
Issuer:
  Pacific Gas and Electric Company
 
    
Security:
  5.625% Senior Notes due November 30, 2017
 
    
Size:
  $500,000,000
 
    
Maturity Date:
  November 30, 2017
 
    
Coupon:
  5.625%
 
    
Interest Payment Dates:
  May 30 and November 30, commencing May 30, 2008
 
    
Price to Public:
  99.458%
 
    
Benchmark Treasury:
  4.25% due November 15, 2017
 
    
Benchmark Treasury Yield:
  4.027%
 
    
Spread to Benchmark Treasury:
  167 basis points
 
    
Yield:
  5.697%
 
    
Optional Redemption:
  Make-Whole Call at Treasuries plus 30 basis points
 
    
Expected Settlement Date:
  December 4, 2007
 
    
CUSIP:
  694308 GL5
 
    
Anticipated Ratings:
  Baa1 by Moody’s Investors Service, Inc.
 
  BBB+ by Standard & Poor’s Ratings Services
 
    
Joint Book-Running Managers:
  BNP Paribas Securities Corp.
 
  J.P. Morgan Securities Inc.
 
  Morgan Stanley & Co. Incorporated
 
    
Co-Managers:
  Wedbush Morgan Securities Inc.
 
  CastleOak Securities, L.P.
 
  Utendahl Capital Partners, L.P.
Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering.
You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling BNP Paribas Securities Corp. toll free at 1-800-854-5674; J.P. Morgan Securities Inc. collect at 1-212-834-4533; or Morgan Stanley & Co. Incorporated toll free at 1-866-718-1649.