Company: PCG-PB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001004980-25-000010
Chunk: 169

Company: PG&E Corp
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 169
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 Wildfire self-insurance (7)804 407 Other790 1,379 Total noncurrent regulatory liabilities$19,417 $19,444 (1) Represents the cumulative differences between the recorded costs to remove assets and amounts collected through rates for expected costs to remove assets.(2) Represents amounts received from customers designated for public purpose program costs expected to be incurred beyond the next 12 months, primarily related to energy efficiency programs.(3) Represents cumulative differences between incurred costs and amounts collected through rates for post-retirement medical, post-retirement life, and long-term disability plans. (4) Represents the portion of the net proceeds received from the sale of transmission tower wireless licenses that will be returned to customers through 2042.  Of the $306 million, $273 million will be refunded to FERC-jurisdictional customers, and $33 million will be refunded to CPUC-jurisdictional customers.(5) Represents the noncurrent portion of the net gain on the sale of the SFGO, which is being distributed to customers over a five-year period that began in 2022.(6) In connection with the SB 901 securitization, the Utility is required to return up to $7.59 billion of certain shareholder tax benefits to customers via periodic bill credits over the life of the recovery bonds.  The balance reflects qualifying shareholder tax benefits that PG&E Corporation is obligated to contribute to the customer credit trust, net of amortization since inception.  See Note 5 below.(7)  Represents amounts collected through rates designated for wildfire self-insurance.  See Note 14 below.

Regulatory Balancing AccountsThe Utility tracks (1) differences between the Utility’s authorized revenue requirement and customer billings, and (2) differences between incurred costs and customer billings.  To the extent these differences are probable of recovery or refund over the next 12 months, the Utility records a current regulatory balancing account receivable or payable.  Regulatory balancing accounts that the Utility expects to collect or refund over a period exceeding 12 months are recorded as other noncurrent assets – regulatory assets or noncurrent liabilities – regulatory liabilities, respectively, in the Consolidated Balance Sheets.  These differences do not have an impact on net income.  Balancing accounts fluctuate during the year based on seasonal electric and gas usage and timing differences between when costs are incurred and customer revenues are collected.  Some regulatory balancing accounts receivable earn interest which is reflected in Interest income in the Consolidated