PG&E is a holding company. Through its subsidiary, Pacific Gas and Electric Company (Utility), Co. engages in electricity and natural gas distribution operations, electricity generation, and natural gas transportation and storage services. The Utility owns generation facilities located in California, and owns and operates natural gas transportation, storage, and distribution system in northern and central California. The Utility served approximately 5.2 million electricity distribution customers and about 4.4 million natural gas distribution customers at Dec 31 2012. The Utility is regulated by the California Public Utilities Commission and the Federal Energy Regulatory Commission.
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