Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 220

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 1A
Chunk 220
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 by the amount of contributions for which the utility has not claimed a reduction.  For the Utility, the disallowance cap would be approximately $4.7 billion for 2025.  This disallowance cap is based on the equity portion of the Utility’s forecasted weighted-average 2025 electric transmission and distribution rate base, which is subject to adjustment based on changes in the Utility’s electric transmission and distribution rate base.  The disallowance cap is inapplicable in certain circumstances, including if the Wildfire Fund administrator determines that the electric utility company’s actions or inactions that resulted in the applicable wildfire constituted “conscious or willful disregard for the rights and safety of others,” or the electric utility company failed to maintain a valid safety certification.  Costs that the CPUC determines to be just and reasonable in accordance with the prudency standard in AB 1054 will not be reimbursed to the Wildfire Fund or the Continuation Account, resulting in a draw-down of the Wildfire Fund or Continuation Account, as applicable.Before the expiration of any current safety certification, the Utility must request a new safety certification from the OEIS, which the Utility expects to be issued within 90 days if the Utility has provided documentation that it has satisfied the requirements for the safety certification pursuant to Section 8389(e) of the Public Utilities Code, added by AB 1054.  An issued safety certification is valid for 12 months or until a timely request for a new safety certification is acted upon, whichever occurs later.  The safety certification is separate from the CPUC’s enforcement authority and does not preclude the CPUC from pursuing remedies for safety or other applicable violations.  On December 11, 2024, the OEIS approved the Utility’s 2024 application and issued the Utility’s 2024 safety certification.The Wildfire Fund is expected to be capitalized with at least $21 billion through (i) a 15-year non-bypassable charge to customers, (ii) $7.5 billion in initial contributions from California’s three large electric IOUs and (iii) $300 million in annual contributions paid by the participating utilities for a 10-year period.  If the administrator determines that additional annual contributions are necessary, the Continuation Account would be capitalized with up to $18 billion, of which $9 billion would be contributed through a non-bypassable charge from customers, $5.1 billion would be contributed by the utilities,