Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 239

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 239
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 undiscounted future costs associated with MGP sites may increase by as much as $637 million if the extent of contamination or necessary remediation at identified MGP sites is greater than anticipated.  The costs associated with environmental remediation at the MGP sites are recovered through the HSMA, where 90% of the costs are recovered through rates.Utility-Owned Generation Facilities and Third-Party Disposal SitesUtility-owned generation facilities and third-party disposal sites often involve long-term remediation.  It is reasonably possible that the Utility’s undiscounted future costs associated with Utility-owned generation facilities and third-party disposal sites may increase by as much as $67 million if the extent of contamination or necessary remediation is greater than anticipated.  The environmental remediation costs associated with the Utility-owned generation facilities and third-party disposal sites are recovered through the HSMA, where 90% of the costs are recovered through rates.Fossil Fuel-Fired Generation SitesIn 1998, the Utility divested its generation power plant business as part of generation deregulation.  Although the Utility sold its fossil-fueled power plants, the Utility retained the environmental remediation liability associated with each site.  It is reasonably possible that the Utility’s undiscounted future costs associated with fossil fuel-fired generation sites may increase by as much as $16 million if the extent of contamination or necessary remediation is greater than anticipated.  The environmental remediation costs associated with the fossil fuel-fired sites will not be recovered through rates.

Nuclear InsuranceThe Utility maintains multiple insurance policies through NEIL, a mutual insurer owned by utilities with nuclear facilities, and European Mutual Association for Nuclear Insurance (“EMANI”), covering nuclear or non-nuclear events at the Utility’s two nuclear generating units at DCPP and the Humboldt Bay independent spent fuel storage installation.

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NEIL provides insurance coverage for property damages and business interruption losses incurred by the Utility if a nuclear or non-nuclear event were to occur at the Utility’s two nuclear generating units at DCPP.  NEIL provides property damage and business interruption coverage of up to $3.2 billion per nuclear incident (including terrorism and cybersecurity) and $2.5 billion per non-nuclear incident for DCPP.  For Humboldt Bay independent spent fuel storage installation, NEIL provides up to $50 million of coverage for nuclear and non-nuclear property damages.  These coverage amounts are shared by all NEIL members.  EMANI shares losses with NEIL as part of the first $400 million of coverage