Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 219

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 219
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 answer.On February 7, 2023, the Utility entered into a tolling agreement with Cal OES, extending their time to file a complaint.PG&E Corporation and the Utility are aware of a separate putative class complaint. On August 23, 2024, PG&E Corporation and the Utility demurred to the putative class complaint.  On January 13, 2025, the court issued an order pursuant to which plaintiff has 30 days to amend the complaint or the case will be abated.Based on the current state of the law concerning inverse condemnation in California and the facts and circumstances available to PG&E Corporation and the Utility as of the date of this filing, including Cal Fire’s determination of the cause and the information gathered as part of PG&E Corporation’s and the Utility’s investigation, PG&E Corporation and the Utility believe it is probable that they will incur a loss in connection with the 2021 Dixie fire.  PG&E Corporation and the Utility recorded a liability in the aggregate amount of $1.6 billion as of December 31, 2023 (before available insurance).  Based on the facts and circumstances available to PG&E Corporation and the Utility as of the date of this filing, including their experience with settlements, PG&E Corporation and the Utility recorded additional charges during 2024 of $325 million, of which $275 million was recorded in the third quarter and $50 million was recorded in the fourth quarter, for an aggregate liability of $1.925 billion (before available insurance).PG&E Corporation’s and the Utility’s accrued estimated losses of $1.925 billion do not include, among other things: (i) any amounts for potential penalties or fines that may be imposed by courts or other governmental entities on PG&E Corporation or the Utility, (ii) any punitive damages, (iii) any amounts in respect of compensation claims by federal or state agencies other than Cal Fire, including for fire suppression costs and damages related to federal land, (iv) class action medical monitoring costs, or (v) any other amounts that are not reasonably estimable.As noted above, the aggregate estimated liability for claims in connection with the 2021 Dixie fire does not include potential claims for fire suppression costs other than Cal Fire or damage to land and vegetation in national parks or national forests.  As to these damages, PG&E Corporation and the Utility have not concluded that a loss is probable.  PG&E Corporation and the Utility are unable to reasonably estimate the range of possible