Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 15

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Part II, Item 7
Chunk 15
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Partially offset by:

•approximately $100 million in lower interim rate relief as authorized in the WGSC proceeding (see “Wildfire and Gas Safety Costs Recovery Application” below) in the three months ended September 30, 2025, compared with the same period in 2024; and

•an approximately $60 million decrease in revenue due to expense disallowances as per the 2022 WMCE final decision (see “2022 WMCE Application” below) in the three months ended September 30, 2025 with no comparable decrease in the same period in 2024.

The Utility’s electric and natural gas operating revenues increased by $343 million, or 2%, in the nine months ended September 30, 2025, compared to the same period in 2024.  This increase was primarily due to:

•approximately $520 million in revenues to recover costs associated with extended operations at DCPP in the nine months ended September 30, 2025, with no comparable revenues in the same period in 2024;

•approximately $490 million in interim rate relief authorized in the 2023 WMCE proceeding (see “2023 Wildfire Mitigation and Catastrophic Events Application” below) in the nine months ended September 30, 2025, with no comparable revenues in the same period in 2024;

•an increase in revenues to recover the cost of electricity procurement (which increased by approximately $94 million) in the nine months ended September 30, 2025, compared to costs in the same period in 2024. These costs are passed through to customers and do not impact net income; and

•approximately $50 million in revenues authorized in the GOSMA petition for modification final decision in the nine months ended September 30, 2025, with no comparable revenues in the same period in 2024.

Partially offset by:

•approximately $540 million in interim rate relief authorized in the 2022 WMCE proceeding (see “2022 WMCE Application” below) in the nine months ended September 30, 2024, with no comparable revenues in the same period in 2025;

•approximately $130 million in lower interim rate relief as authorized in the WGSC proceeding (see “Wildfire and Gas Safety Costs Recovery Application” below) in the nine months ended September 30, 2025, compared with the same period in 2024;

•a decrease in revenues to recover the cost of natural gas