SAN FRANCISCO - PG&E Corporation's (NYSE: PCG) utility unit, Pacific Gas and Electric Company, has received approval from the U.S. Bankruptcy Court to pay $310 million of 6-1/4 percent Series 93G First and Refunding Mortgage Bonds maturing March 1, 2004. Pacific Gas and Electric Company will pay the bondholders from its current available cash.

Bondholders who hold the bonds in a brokerage account will have principal and interest paid to their account. Certificate holders will need to deliver their certificates to the trustee, The Bank of New York, to receive payment for the principal. Interest checks to certificate holders will be mailed separately.