Company: PCG-PB
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001004980-25-000087
Chunk: 95

Company: PG&E Corp
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 8
Chunk 95
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 interim rate relief of $1.1 billion to be recovered over 12 months, which went into effect July 1, 2023.  The remaining $224 million will be recovered to the extent it is approved after the CPUC issues a final decision for such requested rate relief.  Cost recovery requested in the 2022 WMCE application is subject to the CPUC’s reasonableness review, which could result in some or all of the interim rate relief being subject to refund.

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2023 WMCE Interim Rate Relief Subject to RefundOn December 1, 2023, the Utility filed an application with the CPUC requesting cost recovery of approximately $2.18 billion of recorded expenditures, resulting in a proposed revenue requirement of approximately $1.86 billion (the “2023 WMCE application”).  The costs addressed in the 2023 WMCE 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 2022.The recorded expenditures consist of $1.6 billion in expenses and $559 million in capital expenditures.  Of these amounts, approximately 15% of expense, or $239 million, and 30% of capital expenditures, or $167 million, relate to the Utility’s response to the 2022-2023 extreme winter storms CEMA event.On September 16, 2024, the CPUC issued a final decision on interim rate that grants the Utility interim rate relief of $944 million, plus interest, subject to refund, to be recovered over at least 17 months starting October 1, 2024.   The remaining $914 million, plus interest, would be recovered to the extent it is approved after the CPUC issues a final decision.  Cost recovery requested in the 2023 WMCE application is subject to the CPUC’s reasonableness review, which could result in some or all of the interim rate relief being subject to refund. 

Wildfire and Gas Safety Costs Interim Rate Relief Subject to RefundOn June 15, 2023, the Utility filed a WGSC application with the CPUC requesting cost recovery of approximately $2.5 billion of recorded expenditures related to wildfire mitigation costs and gas safety and electric modernization costs.The recorded expenditures for wildfire mitigation consist of $726 million in expenses and $1.5 billion in capital expenditures and cover activities during the