Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 65

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 65
---
 2024, the CPUC issued a final decision in the Utility’s 2023 Cost of Capital proceeding that changed the cost of capital adjustment mechanism and set the Utility’s ROE at 10.28% effective January 1, 2025.

•In September 2024, the CPUC issued a final decision on interim rate recovery in the Utility’s 2023 WMCE that grants the Utility interim rate relief of $944 million, plus interest, subject to refund.

•In August 2024, the FERC issued an order approving the Utility’s TO18 transmission rate case settlement.

•In July 2024, the CPUC issued a final decision for Phase 2 of the GRC that set a cumulative expenditure cap at $2.26 billion for the period of 2024 to 2026 and permits the Utility to revisit the 2025 and 2026 cap amounts.

•In March 2024, the CPUC granted the Utility’s request to delay $650 million of contributions to the customer credit trust from 2024 to 2025. 

•In March 2024, the CPUC approved a final decision in the WGSC proceeding authorizing the Utility to recover $516 million in interim rates to be recovered over 12 months starting April 1, 2024.

•In February 2024, the CPUC issued a final resolution approving an Administrative Consent Order and Agreement between the SED and the Utility regarding the 2021 Dixie fire.

75

Cost Recovery Proceedings

Periodically, costs arise that could not have been anticipated by the Utility during CPUC GRC proceedings or that have been deliberately excluded from such proceedings.  For instance, these costs may result from catastrophic events, changes in regulation, or extraordinary changes in operating practices.  The Utility may seek authority to track incremental costs in a memorandum account and the CPUC may later authorize recovery of costs tracked in memorandum accounts if the costs are deemed incremental and prudently incurred.  The CPUC may also authorize balancing accounts with limitations or caps on cost recovery.  These accounts, which include the CEMA, WEMA, FHPMA, FRMMA, WMPMA, VMBA, WMBA, and MGMA among others, allow the Utility to track the costs associated with work related to disaster and wildfire response, other wildfire prevention-related costs, and certain third-party wildfire claims.  While the Utility generally expects such costs to be recoverable, the CPUC may authorize the Utility