Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 220

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 220
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 losses for any such claims due to, among other factors, incomplete information as to facts pertinent to potential claims and defenses, as well as facts that would bear on the amount, type, and valuation of vegetation loss, potential reforestation, habitat loss, and other resources damaged or destroyed by the 2021 Dixie fire.  PG&E Corporation and the Utility believe, however, that such losses could be significant with respect to fire suppression costs due to the size and duration of the 2021 Dixie fire and corresponding magnitude of fire suppression resources dedicated to fighting the 2021 Dixie fire and with respect to claims for damage to land and vegetation in national parks or national forests due to the very large number of acres of national parks and national forests that were affected by the 2021 Dixie fire.  According to the Cal Fire Investigation Report, over $650 million of costs had been incurred in suppressing the 2021 Dixie fire.  The Utility estimates that the fire burned approximately 70,000 acres of national parks and approximately 685,000 acres of national forests.The following table presents changes in the lower end of the range of PG&E Corporation’s and the Utility’s reasonably estimable losses, net of payments, for claims arising from the 2021 Dixie fire since December 31, 2023.Loss Accrual (in millions)Balance at December 31, 2023$870 Accrued Losses325 Payments(628)Balance at December 31, 2024$567 As of December 31, 2024, the Utility recorded an insurance receivable of $527 million for probable insurance recoveries in connection with the 2021 Dixie fire.

152

The Utility recorded an aggregate Wildfire Fund receivable of $925 million for probable recoveries in connection with the 2021 Dixie fire, of which it had received $169 million as of December 31, 2024.  AB 1054 provides that the CPUC may allocate costs and expenses in the application for cost recovery in full or in part taking into account factors both within and beyond the utility’s control that may have exacerbated the costs and expenses, including humidity, temperature, and winds.  PG&E Corporation and the Utility believe that, even if it found that the Utility acted unreasonably, the CPUC would nevertheless authorize recovery in part.  See “Wildfire Fund under AB 1054” below.  As of December 31, 2024, the Utility