Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 216

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1A
Chunk 216
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&E Corporation has decreased its Income tax benefit by $70 million in the year ended December 31, 2024 related to state and federal income taxes.  PG&E Corporation intends to defend itself vigorously as to all costs in this matter.

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Environmental Remediation ContingenciesGiven the complexities of the legal and regulatory environment and the inherent uncertainties involved in the early stages of a remediation project, the process for estimating remediation liabilities requires significant judgment.  The Utility records an environmental remediation liability when the site assessments indicate that remediation is probable, and the Utility can reasonably estimate the loss or a range of probable amounts.  The Utility records an environmental remediation liability based on the lower end of the range of estimated probable costs, unless an amount within the range is a better estimate than any other amount.  Key factors that inform the development of estimated costs include site feasibility studies and investigations, applicable remediation actions, operations and maintenance activities, post-remediation monitoring, and the cost of technologies that are expected to be approved to remediate the site.  Amounts recorded are not discounted to their present value.  The Utility’s environmental remediation liability is primarily included in Noncurrent liabilities on the Condensed Consolidated Balance Sheets and is comprised of the following: Balance at(in millions)June 30, 2025December 31, 2024Topock natural gas compressor station$339 $294 Hinkley natural gas compressor station97 97 Former MGP sites owned by the Utility or third parties (1)764 782 Utility-owned generation facilities (other than fossil fuel-fired), other facilities, and third-party disposal sites (2)74 76 Fossil fuel-fired generation facilities and sites (3)18 18 Total environmental remediation liability$1,292 $1,267 (1) Primarily driven by the following sites: San Francisco Beach Street, Napa, and San Francisco East Harbor.(2) Primarily driven by Geothermal Landfill and Shell Pond site.(3) Primarily driven by the San Francisco Potrero Power Plant.The Utility’s gas compressor stations, former MGP sites, power plant sites, gas gathering sites, and sites used by the Utility for the storage, recycling, and disposal of potentially hazardous substances are subject to requirements issued by the United States Environmental Protection Agency under the Federal Resource Conservation and Recovery Act in addition to other state laws relating to hazardous substances.  The Utility has a comprehensive program to comply with federal, state, and