Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 32

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Part II, Item 7
Chunk 32
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, the Utility had recorded an aggregate amount of approximately $2.6 billion in costs for the CEMA, WEMA, FRMMA, WMPMA, VMBA, WMBA, and MGMA.  Of these costs, approximately $0.2 billion was authorized for recovery and accounted for as current, and $2.4 billion was accounted for as long term as of September 30, 2025.  See Note 3 of the Notes to the Condensed Consolidated Financial Statements in Part I, Item 1.

If the amount of the costs recorded in these accounts increases, or the delay between incurring and recovering costs lengthens, PG&E Corporation and the Utility may incur additional financing costs.  If the Utility does not recover the full amount of its recorded costs, the difference between the recorded and recovered amounts would be written off as a non-cash disallowance.  Such disallowances could materially affect PG&E Corporation’s and the Utility’s financial condition, results of operations, liquidity, and cash flows.

For more information, see Note 3 of the Notes to the Condensed Consolidated Financial Statements in Part I, Item 1, and “Wildfire Mitigation and Catastrophic Events Cost Recovery Applications” and “Wildfire and Gas Safety Costs Recovery Application” below.

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The Utility’s cost recovery proceedings for the costs described above that are pending, have pending appeals, or were completed during the nine months ended September 30, 2025 are summarized in the following table:

ProceedingRequest (1)Status2021 WMCERevenue requirement of approximately $1.47 billionPartial settlement agreement to recover $721 million of revenue requirement approved August 2023.  Decision authorizing $429 million of revenue requirement for the VMBA related costs adopted December 2024.  Application for rehearing related to VMBA costs denied September 2025.2022 WMCERevenue requirement of approximately $1.29 billionFinal decision authorizing $1.06 billion of total cost recovery issued September 2025. 2023 WMCERevenue requirement of approximately $1.86 billionApplication filed December 2023.  Decision authorizing $944 million of interim rate relief adopted September 2024.  Partial settlement filed June 2025.2024 WMCERevenue requirement of approximately $435 million Application filed November 2024.2023 WGSCRevenue requirement of