Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 14

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Part II, Item 7
Chunk 14
---
SB 901 securitization charges, net35 33 35 33 Wildfire-related claims, net of recoveries1 74 100 70 Wildfire Fund expense86 139 271 295 Depreciation, amortization, and decommissioning1,132 1,059 3,302 3,134 Total operating expenses5,036 4,907 14,587 14,335 Operating Income1,214 1,034 3,544 3,453 Interest income91 153 384 486 Interest expense(691)(721)(2,059)(2,125)Other income, net97 82 251 240 Income Before Income Taxes711 548 2,120 2,054 Income tax (benefit) expense(202)(70)(100)90 Net Income913 618 2,220 1,964 Preferred stock dividend requirement3 3 10 10 Income Available for Common Stock$910 $615 $2,210 $1,954 

Operating Revenues

The Utility’s electric and natural gas operating revenues increased by $309 million, or 5%, in the three months ended September 30, 2025, compared to the same period in 2024.  This increase was primarily due to:

•approximately $150 million in revenues to recover costs associated with extended operations at DCPP in the three months ended September 30, 2025, with no comparable revenues in the same period in 2024;

•approximately $140 million in interim rate relief authorized in the 2023 WMCE proceeding (see “2023 Wildfire Mitigation and Catastrophic Events Application” below) in the three 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 $180 million) in the three months ended September 30, 2025, as compared to costs in the same period in 2024.  These costs are passed through to customers and do not impact net income; and

•an increase in revenues to recover the cost of natural gas (which increased by approximately $42 million) in the three months ended September 30, 2025, as compared to costs in the same period in 2024.  These costs are passed through to customers and do not impact net income