Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 111

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 1
Chunk 111
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 decommissioning are insufficient to pay for all reasonable and prudent decommissioning costs, the CPUC must authorize the electric utility to collect these charges from its customers.

For costs related to AROs, see “Asset Retirement Obligations” in Note 2 of the Notes to the Consolidated Financial Statements in Item 8.

Human Capital

Employees and Contractors

As of December 31, 2024, PG&E Corporation had 10 employees and the Utility had approximately 28,400 regular employees.  Of the Utility’s regular employees, approximately 17,600 are covered by collective bargaining agreements with the local chapters of three labor unions: the International Brotherhood of Electrical Workers (“IBEW”) Local 1245; the Engineers and Scientists of California (“ESC”) IFPTE 20; and the Service Employees International Union Local 24/7 (“SEIU”).  The collective bargaining agreements in effect for the IBEW Local 1245, ESC Local 20, and SEIU United Service Workers West, are set to expire on December 31, 2025.  The agreements increase wages annually by 3.75% from 2022 through 2025 and maintain current contributions to specified benefits.  The IBEW, ESC, and SEIU represent approximately 62% of the Utility’s employee workforce and support several areas of the Utility’s business, including gas and electric operations.  The Utility enjoys stable and productive relationships with its unions and did not experience any work stoppages in 2024.

24

PG&E Corporation’s employees are primarily at the executive management level.  The Utility generally has a stable workforce.  The Utility’s turnover rate for each of 2024 and 2023 was 4.0%.  Approximately 44% of PG&E Corporation’s and the Utility’s employees have a tenure of more than 10 years, with an average tenure of 11 years.  Approximately 18% of PG&E Corporation’s and the Utility’s employees are eligible to retire.  (PG&E Corporation and the Utility define retirement age as 55 years and older.)

The Utility’s contractors and subcontractors include approximately 35,000 individuals from approximately 1,200 contractor companies.

Human Capital Management

PG&E Corporation’s and the Utility’s human capital resource objectives are to build and retain an engaged, well trained, diverse, and equitable workforce.  PG&E Corporation’s and the Utility’s Boards of Directors are responsible for overseeing management’s development and execution of PG&E Corporation’s and the Utility