This was just announced by PG&E today. In simple terms,  residential gas rates will increase by 2.4 percent effective June 1st. Electricity rates to remain the same for the rest of the year.

PG&E Receives Approval of New Electric and Natural Gas Revenues

Customers to See Minor Effect on Rates

Release Date: May 5, 2011
Contact: PG&E External Communications (415) 973-5930

SAN FRANCISCO, Calif. – Pacific Gas and
Electric Company (PG&E) announced today that it received approval of
its 2011-2013 General Rate Case (GRC) revenue needs from the California
Public Utilities Commission (CPUC) to fund its electric and natural gas
distribution operations and electric generation facilities.

"This decision will allow us to continue our focus on providing safe
and reliable electric and gas service over the next three years," said
Tom Bottorff, PG&E's senior vice president of regulatory relations.
"These funds are necessary to connect new customers, repair and replace
aging infrastructure, and restore service during storms."

The decision will have no immediate effect on PG&E's electric
rates. The difference between the revenues approved today by the CPUC
and what PG&E is already collecting in rates is less than one tenth
of one percent. Therefore, PG&E does not intend to change its
electric rates to reflect the new revenues until January 2012 when other
revenue changes are typically reflected in rates. On the gas side,
PG&E's average residential rate will increase by 2.4 percent to
$1.22 per therm on June 1 along with normal monthly changes that reflect
gas market prices.

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation
(NYSE:PCG), is one of the largest combined natural gas and electric
utilities in the United States. Based in San Francisco, with 20,000
employees, the company delivers some of the nation's cleanest energy to
15 million people in Northern and Central California. For more
information, visit:
http://www.pge.com/about/newsroom/.