Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 154

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 1A
Chunk 154
---
, and establishing a settlement and hearing process, but denying the 0.5% ROE adder for participation in the CAISO, which results in a forecast transmission revenue requirement of $2.78 billion.  On January 29, 2024, the Utility filed a request for rehearing of the FERC’s denial of the 0.5% ROE adder for participation in the CAISO.  On June 12, 2024, the FERC issued an order denying the Utility’s request for rehearing.  On June 18, 2024, the Utility and other California IOUs filed an appeal of the FERC’s order denying the Utility’s request for rehearing.  On July 11, 2025, the Ninth Circuit Court of Appeals denied the utilities’ joint appeal.  On August 20, 2025, the Utility and California IOUs sought en banc review from the Ninth Circuit.  On September 15, 2025, the Ninth Circuit denied en bank review.  On October 7, 2025, the Utility and California IOUs filed a petition for certiorari with the Supreme Court.  

On March 21, 2025, the Utility filed with the FERC a settlement in the TO21 rate case.  On August 5, 2025, the FERC issued a decision approving the settlement and resolving all contested issues in the proceeding, as well as specific wildfire cost recovery issues raised by stakeholders in prior proceedings related to the Utility’s TO tariff.  The decision results in a reduction in the revenue requirement in 2024 from the effective rate request of $2.78 billion to $2.55 billion.  The decision sets a base ROE of 10.38%, a fixed capital structure with common equity weighted at 50.0%, preferred equity at 0.3%, and long-term debt at 49.7%.  

Other Regulatory Proceedings

2023-2025 Wildfire Mitigation Plan

The Utility submitted an updated 2025 WMP on April 2, 2024, as directed by the OEIS.  On November 19, 2024, the OEIS issued a final approval of the Utility’s 2025 WMP update.  On January 16, 2025, the CPUC ratified the OEIS’s approval.  

On December 5, 2024, the Utility filed a change order request to update some of the forecasted