Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 214

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1A
Chunk 214
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UC requesting cost recovery of approximately $2.18 billion of recorded expenditures, resulting in a proposed revenue requirement of approximately $1.86 billion (the “2023 WMCE application”).  The costs addressed in the 2023 WMCE application reflect costs related to wildfire mitigation and certain catastrophic events, as well as implementation of various customer-focused initiatives.  These costs were incurred primarily in 2022.The recorded expenditures consist of $1.6 billion in expenses and $559 million in capital expenditures.  Of these amounts, approximately 15% of expense, or $239 million, and 30% of capital expenditures, or $167 million, relate to the Utility’s response to the 2022-2023 extreme winter storms CEMA event.On September 16, 2024, the CPUC issued a final decision on interim rate that grants the Utility interim rate relief of $944 million, plus interest, subject to refund, to be recovered over at least 17 months starting October 1, 2024.  The remaining $914 million, plus interest, would be recovered to the extent it is approved after the CPUC issues a final decision.  Cost recovery requested in the 2023 WMCE application is subject to the CPUC’s reasonableness review, which could result in some or all of the interim rate relief being subject to refund. 

Wildfire and Gas Safety Costs Interim Rate Relief Subject to RefundOn June 15, 2023, the Utility filed a WGSC application with the CPUC requesting cost recovery of approximately $2.5 billion of recorded expenditures related to wildfire mitigation costs and gas safety and electric modernization costs.

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The recorded expenditures for wildfire mitigation consist of $726 million in expenses and $1.5 billion in capital expenditures and cover activities during the years 2020 to 2022.  The recorded expenditures for gas safety and electric modernization consist of $120 million in expenses and $118 million in capital expenditures and cover activities during the years 2017 to 2022.  If approved, the requested cost recovery would result in an aggregate revenue requirement of $688 million.  The costs addressed in the WGSC application are incremental to those previously authorized in the Utility’s 2020 GRC and other proceedings.On March 7, 2024, the CPUC approved a final decision authorizing the Utility to recover $516 million in interim rates to be recovered