Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 16

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Part II, Item 7
Chunk 16
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 cost of electricity procurement (which decreased by approximately $160 million) in the three months ended June 30, 2025, as compared to costs in the same period in 2024. These costs are passed through to customers and do not impact net income.

16

Partially offset by:

•approximately $240 million in revenues to recover costs associated with extended operations at DCPP in the three months ended June 30, 2025, with no comparable revenues in the same period in 2024;

•approximately $190 million in interim rate relief authorized in the 2023 WMCE proceeding (see “2023 Wildfire Mitigation and Catastrophic Events Application” below) in the three months ended June 30, 2025, with no comparable revenues in the same period in 2024;

•an approximately $80 million increase in the FERC TO formula rate revenue in the three months ended June 30, 2025, compared to the same period in 2024; and

•approximately $20 million in revenues authorized in the General Office Sale Memorandum Account (“GOSMA”) petition for modification final decision in the three months ended June 30, 2025, with no comparable revenues in the same period in 2024.

The Utility’s electric and natural gas operating revenues increased by $34 million, or 0%, in the six months ended June 30, 2025, compared to the same period in 2024. This increase was primarily due to:

•approximately $370 million in revenues to recover costs associated with extended operations at DCPP in the six months ended June 30, 2025, with no comparable revenues in the same period in 2024;

•approximately $360 million in interim rate relief authorized in the 2023 WMCE proceeding (see “2023 Wildfire Mitigation and Catastrophic Events Application” below) in the six months ended June 30, 2025, with no comparable revenues in the same period in 2024; 

•an approximately $150 million increase in the FERC TO formula rate revenue in the six months ended June 30, 2025, compared to the same period in 2024; and

•approximately $50 million in revenues authorized in the GOSMA petition for modification final decision in the six months ended June 30, 2025, with no comparable revenues in the same period in 2024.

Partially offset by:

•approximately $550 million in interim rate relief authorized