Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 240

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 240
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 within the current nuclear insurance program.  EMANI also provides an additional $200 million in excess insurance for property damage and business interruption losses incurred by the Utility if a nuclear or non-nuclear event were to occur at DCPP.  If NEIL losses in any policy year exceed accumulated funds, the Utility could be subject to a retrospective assessment.  If NEIL were to exercise this assessment, the maximum aggregate annual retrospective premium obligation for the Utility would be approximately $42 million.  Under the Price-Anderson Act, public liability claims that arise from nuclear incidents that occur at DCPP, and that occur during the transportation of material to and from DCPP are limited to approximately $16.3 billion.  The Utility purchases the maximum available public liability insurance of $500 million for DCPP.  The balance of the $16.3 billion of liability protection is provided under a loss-sharing program among nuclear reactor owners.  The Utility may be assessed up to $332 million per nuclear incident under this loss sharing program, with payments in each year limited to a maximum of $49 million per incident.  Both the maximum assessment and the maximum yearly assessment are adjusted for inflation at least every five years.The Price-Anderson Act does not apply to claims that arise from nuclear incidents that occur during shipping of nuclear material from the nuclear fuel enricher to a fuel fabricator or that occur at the fuel fabricator’s facility.  The Utility has a separate policy that provides coverage for claims arising from some of these incidents up to a maximum of $500 million per incident.  In addition, the Utility has approximately $53 million of liability insurance for the Humboldt Bay independent spent fuel storage installation and has a $500 million indemnification from the NRC for public liability arising from nuclear incidents for the Humboldt Bay independent spent fuel storage installation, covering liabilities in excess of the $53 million in liability insurance. 

Purchase CommitmentsThe following table shows the undiscounted future expected obligations under power purchase agreements that have been approved by the CPUC and have met specified construction milestones as well as undiscounted future expected payment obligations for natural gas supplies, natural gas transportation, natural gas storage, and nuclear fuel as of December 31, 2024: Power Purchase Agreements   (in millions)RenewableEnergyConventionalEnergyNaturalGasOther (1)Total2025$2,010 $910 $443 $354 $3,717 20261,952