Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 221

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 1A
Chunk 221
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 and an additional $3.9 billion would be contributed by the utilities if the administrator determines that additional contributions are needed. 

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The Wildfire Fund and Continuation Account will only be available for payment of eligible claims so long as they have sufficient funds remaining.  Such funds could be depleted more quickly than PG&E Corporation’s and the Utility’s 20-year estimate for the life of the Wildfire Fund, including as a result of claims made by California’s other participating utilities.  The Wildfire Fund is available to pay for the Utility’s eligible claims arising between July 12, 2019, the effective date of AB 1054, and September 19, 2025, the effective date of SB 254.  Payments for eligible claims arising between the effective date of AB 1054 and the Utility’s emergence from Chapter 11 are subject to a limit of 40% of the allowed amount of such claims.  The 40% limit does not apply to eligible claims that arise after the Utility’s emergence from Chapter 11.  AB 1054 authorizes the payment of funds to a participating utility where that utility has demonstrated that it exercised reasonable business judgment in the valuation and payment of third-party claims.  PG&E Corporation and the Utility’s Wildfire Fund recoveries are reflected in Wildfire-related claims, net of recoveries in the Condensed Consolidated Statements of Income to the extent PG&E Corporation and the Utility determine that it is probable the CPUC will conclude that the Utility’s conduct was just and reasonable or when the Utility is not otherwise required to reimburse the Wildfire Fund.As of September 30, 2025, PG&E Corporation and the Utility recorded $508 million and $8 million in Accounts receivable - other and Other noncurrent assets, respectively, for Wildfire Fund receivables related to the 2021 Dixie fire.  The following table presents changes in accrued Wildfire Fund recoveries, net of claims paid by the Wildfire Fund received, for the 2021 Dixie fire since December 31, 2024:Wildfire Fund Receivable (in millions)2021 Dixie fireBalance at December 31, 2024$756 Accrued Wildfire Fund recoveries200 Claims paid by Wildfire Fund(440)Balance at September 30, 2025$516 For more information, see Note 2 above.

Wildfire-Related Securities LitigationAs further described under the headings “Wildfire-Related Securities Claims in