Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 57

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 57
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ables are represented by customer accounts.  PG&E Corporation and the Utility record an allowance for doubtful accounts to recognize an estimate of expected lifetime credit losses.  The allowance is determined on a collective basis based on the historical amounts written-off and an assessment of customer collectability.  Furthermore, economic conditions are evaluated as part of the estimate of expected lifetime credit losses.

49

Expected credit losses of $141 million and $241 million were recorded in Operating and maintenance expense on the Condensed Consolidated Statements of Income for credit losses associated with trade and other receivables during the three and six months ended June 30, 2025, respectively.  For the three and six months ended June 30, 2024, expected credit losses were $65 million and $135 million, respectively.  The portion of expected credit losses that are deemed probable of recovery are deferred to the RUBA and a FERC regulatory asset account.  As of June 30, 2025, the RUBA current balancing accounts and FERC noncurrent regulatory asset balances were $146 million and $90 million, respectively.  As of December 31, 2024, the RUBA current balancing accounts and FERC noncurrent regulatory asset balances were $260 million and $85 million, respectively.  The RUBA current balancing account balance decreased from December 31, 2024 to June 30, 2025 primarily due to the annual electric and gas true-up, which allows the Utility to recover approximately $260 million in undercollections from residential customers in 2025.   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 10 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,