Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 137

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1A
Chunk 137
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 operations.  In addition, there was a $236 million increase in purchases of customer credit trust investments, net of proceeds from sales.

The Utility’s investing activities primarily consist of the construction of new and replacement facilities necessary to provide safe and reliable electricity and natural gas services to its customers.  Cash used in investing activities also includes the proceeds from sales of nuclear decommissioning trust, customer credit trust, and self-insurance investments which are partially offset by the amount of cash used to purchase new nuclear decommissioning trust, customer credit trust, and self-insurance investments.  The funds in the decommissioning trusts, along with accumulated earnings, are used exclusively for decommissioning and dismantling the Utility’s nuclear generation facilities.  Pursuant to SB 901, the funds in the customer credit trust, along with accumulated earnings, are used exclusively to fund a monthly credit to customers.

Future cash flows used in investing activities are largely dependent on the timing and amount of capital expenditures.  The Utility estimates that it will incur $12.9 billion of capital expenditures in 2025.

24

Financing Activities

The following table summarizes changes in key components of the Utility’s financing cash flows for the six months ended June 30, 2025, compared to June 30, 2024.

 (in millions)Six Months Ended June 30,Cash provided by financing activities - 2024$2,671 Net borrowings under credit facilities(511)Issuance of long-term debt714 Repayments of long-term debt(600)Dividend payments(200)Proceeds from DWR loan(600)Other financing activities187 Net decrease in cash provided by financing activities(1,010)Cash provided by financing activities - 2025$1,661 

Net cash provided by financing activities decreased by $1.0 billion, or 38%, during the six months ended June 30, 2025 as compared to the same period in 2024.  The decrease was primarily due to:

•$600 million increase in repayments related to long-term debt;

•$600 million decrease in proceeds related to the DWR loan; and

•$511 million decrease in net borrowings under credit facilities.

Partially offset by:

•$714 million increase in proceeds related to issuance of long-term debt.

Cash provided by or used in financing activities is driven by the Utility’s financing needs, which depend on the level of cash provided by or used in operating activities, the level of cash