Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 67

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 67
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.86 billionApplication filed December 2023.  Decision authorizing $944 million of interim rate relief adopted September 2024.  2024 WMCERevenue requirement of approximately $435 million Application filed November 2024.2023 WGSCRevenue requirement of approximately $688 millionApplication filed June 2023. Decision authorizing $516 million of interim rate relief adopted March 2024.

(1) The revenue requirement request amounts do not include interest.

Wildfire Mitigation and Catastrophic Events Cost Recovery Applications

2021 WMCE Application 

On September 16, 2021, the Utility filed an application with the CPUC requesting cost recovery of approximately $1.6 billion of recorded expenditures, resulting in a proposed revenue requirement of approximately $1.47 billion (the “2021 WMCE application”).  The costs addressed in this application reflect costs related to wildfire mitigation and certain catastrophic events, as well as implementation of various customer-focused initiatives.  These costs were incurred primarily in 2020.

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The recorded expenditures consist of $1.4 billion in expenses and $197 million in capital expenditures.  The Utility’s requested revenue requirement includes amounts recorded to the VMBA of $592 million, the CEMA of $535 million, the WMBA of $149 million, and other memorandum accounts.

On August 10, 2023, the CPUC approved a settlement agreement among the Utility and intervenors pursuant to which the Utility began collecting a revenue requirement of $721 million over 24 months beginning September 1, 2023.  The settlement agreement did not address the Utility’s revenue requirement of $592 million associated with costs recorded to the VMBA.

On December 27, 2024, the CPUC issued a final decision approving a revenue requirement of $429 million associated with costs recorded to the VMBA.  On January 27, 2025, the Utility filed an application for rehearing.

2022 WMCE Application 

On December 15, 2022, the Utility filed an application with the CPUC requesting cost recovery of approximately $1.36 billion of recorded expenditures, resulting in a proposed revenue requirement of approximately $1.29 billion (the “2022 WMCE application”).  The costs addressed in this application reflect costs related to wildfire mitigation and certain catastrophic events, as well as implementation of various customer-focused initiatives.  These costs were incurred primarily in