Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 106

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 costs as incurred.  The Utility also has substantial financial commitments in connection with agreements entered into to support its operating activities.  See “Purchase Commitments” below.  PG&E Corporation’s and the Utility’s financial condition, results of operations, liquidity, and cash flows may be materially affected by the outcome of the following matters.

CPUC and FERC Matters

2022 WMCE Interim Rate Relief Subject to RefundOn December 15, 2022, the Utility filed an application with the CPUC requesting cost recovery of approximately $1.36 billion of recorded expenditures, resulting in a proposed revenue requirement of approximately $1.29 billion (the “2022 WMCE application”).  The costs addressed in the 2022 WMCE application reflect costs related to wildfire mitigation and certain catastrophic events, as well as the implementation of various customer-focused initiatives.  These costs were incurred primarily in 2021.The recorded expenditures consist of $1.2 billion in expenses and $136 million in capital expenditures.  On June 8, 2023, the CPUC adopted a final decision granting the Utility interim rate relief of $1.1 billion to be recovered over 12 months, which went into effect July 1, 2023.  The remaining $224 million will be recovered to the extent it is approved after the CPUC issues a final decision for such requested rate relief.  Cost recovery requested in the 2022 WMCE application is subject to the CPUC’s reasonableness review, which could result in some or all of the interim rate relief being subject to refund.

2023 WMCE Interim Rate Relief Subject to RefundOn December 1, 2023, the Utility filed an application with the CPUC requesting cost recovery of approximately $2.18 billion of recorded expenditures, resulting in a proposed revenue requirement of approximately $1.86 billion (the “2023 WMCE application”).  The costs addressed in the 2023 WMCE application reflect costs related to wildfire mitigation and certain catastrophic events, as well as implementation of various customer-focused initiatives.  These costs were incurred primarily in 2022.The recorded expenditures consist of $1.6 billion in expenses and $559 million in capital expenditures.  Of these amounts, approximately 15% of expense, or $239 million, and 30% of capital expenditures, or $167 million, relate to the Utility’s response to the 2022