Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 180

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1A
Chunk 180
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illion in required upfront shareholder contributions, $1.0 billion was contributed to the customer credit trust in 2022, $350 million was contributed on March 28, 2024, and $664 million was contributed on March 31, 2025.  The Utility also recorded a $5.54 billion SB 901 securitization regulatory liability at inception, which represents certain shareholder tax benefits the Utility had previously recognized that will be returned to customers.  As tax benefits are monetized, contributions will be made to the customer credit trust, up to $7.59 billion.  The Utility expects to amortize the SB 901 securitization regulatory asset and liability over the life of the recovery bonds, with such amortization reflected in Operating and maintenance expense in the Condensed Consolidated Statements of Income.  During the three and six months ended June 30, 2025, the Utility recorded $63 million and $139 million for amortization of the regulatory asset and liability, respectively, in the Condensed Consolidated Statements of Income.  During the three and six months ended June 30, 2024, the Utility recorded $82 million and $162 million for amortization of the regulatory asset and liability, respectively, in the Condensed Consolidated Statements of Income.The following tables illustrate the changes in the SB 901 securitization’s impact on the Utility’s regulatory assets and liabilities:SB 901 securitization regulatory asset(in millions)20252024Balance at January 1$5,194 $5,249 Amortization(55)(19)Balance at June 30$5,139 $5,230 

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SB 901 securitization regulatory liability(in millions)20252024Balance at January 1$(6,295)$(6,628)Amortization194180Additions(1)(44)(9)Balance at June 30$(6,145)$(6,457)(1) Includes $44 million and $9 million of returns on investments in the customer credit trust expected to be credited to customers for the six months ended June 30, 2025 and 2024, respectively.

NOTE 6: EQUITY

DividendsSubject to the dividend restrictions as described in Note 6 of the Notes to the Consolidated Financial Statements in Item 8 of the 2024 Form 10-K, any decision to declare and pay dividends in the