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        PRESS RELEASES 2006
       
      FOR IMMEDIATE RELEASE
      February 15, 2006
      ISSUED BY:   PG&E Corporation, 1-800-743-6397

      PG&E CORP. DECLARES QUARTERLY COMMON STOCK DIVIDEND; UTILITY DECLARES PREFERRED STOCK DIVIDENDS

      (San Francisco) – PG&E Corporation (NYSE: PCG) today declared the first quarter 2006 regular cash dividend of 33 cents per share on the Corporation’s common stock. The dividend is payable on April 15, 2006, to shareholders of record on March 31, 2006.

      In addition, PG&E Corporation’s utility unit, Pacific Gas and Electric Company, today declared dividends on all outstanding series of Pacific Gas and Electric Company’s preferred stock for the three months ending April 30, 2006. The dividends will be payable on May 15, 2006, to shareholders of record on April 28, 2006.

      In order to be considered a shareholder of record for the common and preferred dividend payments, you must have purchased the stock at least three trading days before the applicable record date.

      Pacific Gas and Electric Company will pay dividends on its 8 series of preferred stock as follows:

      First Preferred Stock, $25 Par Value Quarterly Dividend to be Paid Per Share
      Redeemable  
      5.00% $0.3125000
      5.00% Series A $0.3125000
      4.80% $0.3000000
      4.50% $0.2812500
      4.36% $0.2725000
      Non-Redeemable  
      6.00% $0.3750000
      5.50% $0.3437500
      5.00% $0.3125000

       


       

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