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

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Part II, Item 7
Chunk 10
---
 in connection with the 2019 Kincade fire, the 2021 Dixie fire, and the 2022 Mosquito fire, respectively, and in each case before available insurance, and, in the case of the 2021 Dixie fire and the 2022 Mosquito fire, other probable cost recoveries.  These liability amounts correspond to the lower end of the range of reasonably estimable probable losses with the exception of amounts relating to the 2019 Kincade fire, which represent the best estimate of the liability, but do not include all categories of potential damages and losses.

PG&E Corporation and the Utility may be able to mitigate the financial impact of future wildfires in excess of insurance coverage or self-insurance through the Wildfire Fund, or cost recovery through rates.  Each of these mitigations involves uncertainties, and liabilities could exceed available recoveries.  See “Loss Recoveries” in Note 10 of the Notes to the Condensed Consolidated Financial Statements in Part I, Item 1.

As of June 30, 2025, the Utility has recorded insurance receivables of $430 million for the 2019 Kincade fire, $523 million for the 2021 Dixie fire, and $251 million for the 2022 Mosquito fire.  Recorded liabilities in connection with the 2019 Kincade fire and the 2021 Dixie fire have exceeded potential amounts recoverable under applicable insurance policies. 

If the eligible claims for liabilities arising from wildfires were to exceed $1.0 billion in any Wildfire Fund coverage year (“Coverage Year”), the Utility may be eligible to make a claim against the Wildfire Fund under AB 1054 for such excess amount.  The Wildfire Fund is available to the Utility to pay eligible claims for liabilities arising from wildfires, provided that the Utility satisfies the conditions to the Utility’s ongoing participation in the Wildfire Fund set forth in AB 1054 and that the Wildfire Fund has sufficient remaining funds.  Such funds are expected to be depleted more quickly than PG&E Corporation’s and the Utility’s 20-year estimate for the life of the Wildfire Fund (see Notes 2 and 10 of the Notes to the Condensed Consolidated Financial Statements in Part I, Item 1), as a result of claims made by California’s other participating electric utility companies.  For example, Edison International and Southern California Edison Company (together, “SCE”) have disclosed that a liability for the wildfire that began on January