Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 96

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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ies for the 2021 Dixie fire and the 2022 Mosquito fire as of June 30, 2025 are: Potential Recovery Source (in millions)2021 Dixie fire2022 Mosquito fireInsurance$523 $251 FERC TO rates95 6 WEMA526 54 Wildfire Fund1,075 — Probable recoveries at June 30, 2025 (1)$2,219 $311 (1) Includes legal costs of $125 million and $54 million related to the 2021 Dixie fire and 2022 Mosquito fire, respectively, as of June 30, 2025.

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The Utility could be subject to significant liability in connection with these wildfire events.  If such liability is not recoverable from insurance or the other mechanisms described in this section, it could have a material impact on PG&E Corporation’s and the Utility’s financial condition, results of operations, liquidity, and cash flows.

Insurance

Self-InsuranceSince August 2023, the Utility’s wildfire liability insurance for amounts up to $1.0 billion has been entirely based on self-insurance and will remain as such through at least 2026.  The self-insurance program includes a 5% deductible, capped at a maximum of $50 million, on claims that are incurred each year.

Insurance ReceivableAs of June 30, 2025, PG&E Corporation and the Utility have recorded total probable insurance recoveries of $523 million and $251 million in connection with the 2021 Dixie fire and the 2022 Mosquito fire, respectively.  PG&E Corporation and the Utility intend to seek full recovery for all insured losses.The balances for insurance receivables with respect to wildfires are included in Other accounts receivable in PG&E Corporation’s and the Utility’s Condensed Consolidated Balance Sheets.  The following table presents changes in accrued insurance recoveries, net of reimbursements received, for the 2021 Dixie fire and 2022 Mosquito fire since December 31, 2024:Insurance Receivable (in millions)2021 Dixie fire2022 Mosquito fireTotalBalance at December 31, 2024$27 $90 $117 Accrued insurance recoveries(5)161 156 Reimbursements— (29)(29)Balance at June 30, 2025$22 $222 $244 

Reg