PG&E Corporation is a holding company whose primary purpose is to hold interests in energy-based businesses. The Company conducts its business principally through Pacific Gas and Electric Company (Utility) a public utility operating in northern and central California. The Utility engages in the businesses of electricity and natural gas distribution; electricity generation, procurement, and transmission; and natural gas procurement, transportation, and storage. The Utility served approximately 5.1 million electricity distribution customers and approximately 4.3 million natural gas distribution customers during the year ended December 31, 2008. Its revenues are generated mainly through the sale and delivery of electricity and natural gas. The Utility is regulated primarily by the California Public Utilities Commission (CPUC), and the Federal Energy Regulatory Commission (FERC).