Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 223

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 223
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 as well as facts that would bear on the amount, type, and valuation of vegetation loss, potential reforestation, habitat loss, and other resources damaged or destroyed by the 2022 Mosquito fire.The following table presents changes in the lower end of the range of PG&E Corporation’s and the Utility’s reasonably estimable losses, net of payments, for claims arising from the 2022 Mosquito fire since December 31, 2023.Loss Accrual (in millions)Balance at December 31, 2023$85 Accrued Losses— Payments(3)Balance at December 31, 2024$82 As of December 31, 2024, the Utility recorded an insurance receivable of $90 million for probable insurance recoveries in connection with the 2022 Mosquito fire, including legal fees.  As of December 31, 2024, the Utility also recorded a $7 million reduction to its regulatory liability for wildfire-related claims costs that were determined to be probable of recovery through the FERC TO formula rate and a $53 million regulatory asset for costs that were determined to be probable of recovery through the WEMA.  See “Regulatory Recovery” below.

Loss RecoveriesPG&E Corporation and the Utility have recovery mechanisms available for wildfire liabilities including from insurance, through rates, and from the Wildfire Fund.  PG&E Corporation and the Utility record a receivable for a recovery when it is deemed probable that recovery of a recorded loss will occur, and the Utility can reasonably estimate the amount or its range.  While the Utility plans to seek recovery of all insured losses, it is unable to predict the ultimate amount and timing of such recoveries.  For more information on the applicable facts and circumstances of the corresponding wildfires, see “2019 Kincade Fire,” “2021 Dixie Fire,” and “2022 Mosquito Fire.”Total probable recoveries for the 2021 Dixie fire and the 2022 Mosquito fire as of December 31, 2024 are:Potential Recovery Source (in millions)2021 Dixie fire2022 Mosquito fireInsurance$527 $90 FERC TO rates94 7 WEMA508 53 Wildfire Fund925 — Probable recoveries at December 31, 2024 (1)$2,054 $150 (1) Includes legal costs of $123 million and $50 million related to the 2021 Dixie fire and