Comparison Of Positions On Unrecovered Costs For PG&E

The table below presents a comparison of the positions of Pacific Gas and Electric ("PG&E") and the Office of Ratepayer Advocates ("ORA") on total unrecovered costs at the end of 2003. This table was submitted by ORA and PG&E as a joint exhibit in the CPUC bankruptcy proceeding (Exhibit 184).

Pre-Tax Costs in $MM
Line # PG&E’s Unrecovered Costs PG&E ORA
1	Balancing Account Uncollected Costs at 12/31/00	6,952	6,952
2	Adjustment for URG net Plant	(1,610)	(1,610)
3	Increased 2001 Return and Taxes on Retained Generation Plant	387	- 0 -
4	Incremental Interest Expense	1,287	- 0 -
5	Foregone Tax Benefits	133	- 0 -
6	Bankruptcy Litigation Costs	444	- 0 -
7	Corp Gas Hedge Contract Termination	(16)	- 0 -
8	Corp Gas Hedge Contract Termination	112	- 0 -
9	2001 Headroom	(780)	(547)
10	2002 Headroom	(2,368)	(3,131)
11	Settlement Headroom for 2003	(875)	(875)
12
13	Total Pre-Tax Unrecovered Costs at 12/31/03	3,666	789

After-Tax Unrecovered Costs: $2.2 Billion $475 Million