Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 64

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 64
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’s financing needs, which depend on the level of cash provided by or used in operating activities, the level of cash provided by or used in investing activities, the conditions in the capital markets, and the maturity date or prepayment date of existing debt instruments.  Additionally, the Utility’s future cash flows from financing activities will be affected by the timing and outcome of the Utility’s financings, dividend payments, and equity contributions from PG&E Corporation.  As of December 31, 2024, PG&E Corporation has completed the planned equity financing for its $63 billion 2024 through 2028 capital expenditure plan.

LITIGATION MATTERS

PG&E Corporation and the Utility have significant contingencies arising from their operations, including contingencies related to the enforcement and litigation matters described in Notes 14 and 15 of the Notes to the Consolidated Financial Statements in Item 8 and in “Regulatory Matters” below that are incorporated by reference herein.  The outcome of these matters, individually or in the aggregate, could have a material effect on PG&E Corporation’s and the Utility’s financial condition, results of operations, liquidity, and cash flows.

REGULATORY MATTERS

The Utility is subject to substantial regulation by the CPUC, the FERC, the OEIS, the NRC, and other federal and state regulatory agencies.  The resolutions of the proceedings described below and other proceedings may materially affect PG&E Corporation’s and the Utility’s financial condition, results of operations, liquidity, and cash flows.  Except as otherwise noted, PG&E Corporation and the Utility are unable to predict the timing and outcome of the following proceedings.

During the year ended December 31, 2024 and through the date of this filing, key updates to regulatory and legislative matters were as follows:

•In December 2024, the CPUC issued a final decision in the 2021 WMCE proceeding approving a revenue requirement of $429 million associated with costs recorded to the VMBA.

•In December 2024, the CPUC issued a final decision approving $723 million out of the Utility’s request of $761 million for net recovery of the Utility’s costs to operate DCPP from 2023 through 2025. 

•In November 2024, the OEIS issued a final decision approving the Utility’s 2025 WMP update, which the CPUC ratified on January 16, 2025.  The OEIS issued a safety certificate for the Utility on December 11, 2024.

•In October