Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 146

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1A
Chunk 146
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 the CPUC provides for a procedural schedule that would provide a final decision in 2025.

Transmission Owner Rate Cases

Transmission Owner Rate Case for 2024 (the “TO21” rate case)

On October 13, 2023, the Utility filed its TO21 rate case with the FERC.  In the filing, the Utility forecasted a 2024 retail electric transmission revenue requirement of $2.83 billion.  The Utility requested that FERC approve a 12.37% base ROE as well as a 0.5% adder for its participation in the CAISO.  The TO21 filing also addresses the Utility’s capital structure and several new issues including wildfire self-insurance recovery from transmission customers.  

On December 29, 2023, the FERC issued an order accepting the TO21 filing subject to refund, establishing a January 1, 2024 effective date, and establishing a settlement and hearing process, but denying the 0.5% ROE adder for participation in the CAISO, which results in a forecast transmission revenue requirement of $2.78 billion.  On January 29, 2024, the Utility filed a request for rehearing of the FERC’s denial of the 0.5% ROE adder for participation in the CAISO.  On June 12, 2024, the FERC issued an order denying the Utility’s request for rehearing.  On June 18, 2024, the Utility and other California IOUs filed an appeal of the FERC’s order denying the Utility’s request for rehearing.  On July 11, 2025, the Ninth Circuit Court of Appeals denied the utilities’ joint appeal. 

On March 21, 2025, the Utility filed with the FERC a settlement in the TO21 rate case.  The settlement would resolve all contested issues in the proceeding, as well as specific wildfire cost recovery issues raised by stakeholders in prior proceedings related to the Utility’s TO tariff.  The settlement would set a base ROE of 10.38%.  The settlement would set a fixed capital structure with common equity weighted at 50.0%, preferred equity at 0.3%, and long-term debt at 49.7%.

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Other Regulatory Proceedings

2023-2025 Wildfire Mitigation Plan

The Utility submitted an updated 2025 WMP on April 2, 2024, as directed by the OEIS