Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
DARBEE PETER A
   2. Issuer Name and Ticker or Trading Symbol
PG&E CORP [PCG] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President and CEO
(Last)
(First)
(Middle)
PG&E CORPORATION, ONE MARKET, SPEAR TOWER, SUITE 2400		 3. Date of Earliest Transaction (Month/Day/Year)
01/03/2005
(Street)

SAN FRANCISCO, CA 94105		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/03/2005   A   25,060 (1) A $ 0 70,510 (2) D  
Common Stock 01/03/2005   S(3)   1,100 D $ 33.33 47,398 I Held by Peter A. and Melinda M. Darbee 1995 Trust
Common Stock 01/03/2005   S(3)   1,685 D $ 33.32 45,713 I Held by Peter A. and Melinda M. Darbee 1995 Trust
Common Stock 01/03/2005   S(3)   900 D $ 33.31 44,813 I Held by Peter A. and Melinda M. Darbee 1995 Trust
Common Stock 01/03/2005   S(3)   800 D $ 33.3 44,013 I Held by Peter A. and Melinda M. Darbee 1995 Trust
Common Stock 01/03/2005   S(3)   100 D $ 33.29 43,913 I Held by Peter A. and Melinda M. Darbee 1995 Trust
Common Stock 01/03/2005   S(3)   100 D $ 33.28 43,813 I Held by Peter A. and Melinda M. Darbee 1995 Trust
Common Stock 01/03/2005   S(3)   4,720 D $ 33.25 39,093 I Held by Peter A. and Melinda M. Darbee 1995 Trust
Common Stock 01/03/2005   S(3)   3,300 D $ 33.24 35,793 I Held by Peter A. and Melinda M. Darbee 1995 Trust
Common Stock 01/03/2005   D(4)   2,321 D $ 0 33,472 I Held by Peter A. and Melinda M. Darbee 1995 Trust
Common Stock               628.31 (5) I Held by Trustee of PG&E Corporation Retirement Savings Fund Plan

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 33.02 01/03/2005   A   108,700     (6) 01/04/2015 Common Stock 108,700 $ 0 108,700 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
DARBEE PETER A
PG&E CORPORATION
ONE MARKET, SPEAR TOWER, SUITE 2400
SAN FRANCISCO, CA 94105		   X     President and CEO  

Signatures

 Eric Montizambert, Attorney-in-Fact for Peter A. Darbee (signed Power of Attorney on file with SEC)   01/05/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Restricted shares granted under the PG&E Corporation Long-Term Incentive Program.
(2) Includes 10,450 Special Incentive Stock Ownership Premiums (SISOPs) (phantom stock) awarded pursuant to the PG&E Corporation Executive Stock Ownership Program. SISOPs vest three years after the date of grant subject to accelerated vesting upon certain events. Unvested SISOPs are subject to forfeiture if certain stock ownership targets are not met. Vested SISOPs are automatically payable in an equal number of shares following termination of employment.
(3) Transaction pursuant to reporting person's Rule 10b5-1 instruction.
(4) Forfeiture of a portion of 2003 restricted stock award pursuant to terms of reporting person's 2003 Restricted Stock Award Agreement.
(5) Represents the approximate number of shares of PG&E Corporation common stock held for the reporting person in the PG&E Corporation RSP. That fund holds units consisting of PG&E Corporation common stock and a small short-term investments component. The number of shares is computed by dividing the value of the units by the daily closing price. Dividends are automatically invested in additional units at the election of the participant. Holdings have been trued up to conform to RSP balance at January 3, 2005.
(6) 25% of the options may be exercised on the first anniversary date of the grant, 50% on or after the second anniversary, 75% on or after the third anniversary, and 100% on or after the fourth anniversary of the date of grant.

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