Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 150

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 150
---
 the RUBA current balancing accounts and FERC noncurrent regulatory asset balances were $260 million and $85 million, respectively.  As of December 31, 2023, the RUBA current balancing accounts and FERC noncurrent regulatory asset balances were $507 million and $78 million, respectively.  The RUBA current balancing account balance decreased from December 31, 2023 to December 31, 2024 primarily due to a decrease in under-collections from residential customers in 2024, which are expected to be recovered in 2025.  

105

Other Receivables and Available-For-Sale Debt SecuritiesInsurance receivables are related to the liability insurance policies PG&E Corporation and the Utility carry.  Insurance receivable risk is related to each insurance carrier’s risk of defaulting on their individual policies.  Wildfire Fund receivables are the funds available from the statewide fund established under AB 1054 for payment of eligible claims related to the 2021 Dixie fire that exceed $1.0 billion.  For more information, see Note 14 below.  Wildfire Fund receivables risk is related to the Wildfire Fund’s durability, which is a measurement of its claim-paying capacity.  PG&E Corporation and the Utility are required to determine if the fair value is below the amortized cost basis for their available-for-sale debt securities (i.e., impairment).  If such an impairment exists and does not otherwise result in a write-down, then PG&E Corporation and the Utility must determine whether a portion of the impairment is a result of expected credit loss.As of December 31, 2024, expected credit losses for insurance receivables, Wildfire Fund receivables, and available-for-sale debt securities were immaterial.

Emission AllowancesThe Utility purchases GHG emission allowances to satisfy its compliance obligations.  Associated costs are recorded as inventory and included in Current assets – Other and Other noncurrent assets – Other on the Consolidated Balance Sheets.  Costs are carried at weighted-average and are recoverable through rates.

InventoriesInventories are carried at weighted-average cost and include gas stored underground, fuel oil, materials, and supplies.  Natural gas stored underground is recorded to inventory when injected and then expensed as the gas is withdrawn for distribution to customers or for use as fuel for electric generation.  Materials and supplies are recorded to inventory when purchased and expensed or capitalized to plant, as appropriate, when consumed or installed.

Property