Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 134

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Item 1A
Chunk 134
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30, 2024, with no comparable costs in the same period in 2025;

•approximately $130 million in lower interim rate relief as authorized in the WGSC proceeding (see “Wildfire and Gas Safety Costs Recovery Application” below) in the nine months ended September 30, 2025, compared with the same period in 2024;

•approximately $60 million in lower costs related to winter storm response in the nine months ended September 30, 2025, compared to the same period in 2024; and 

•approximately $40 million reduction in insurance costs related to the Utility’s adoption of non-wildfire-related self-insurance in the nine months ended September 30, 2025, compared with the same period in 2024.

Wildfire-Related Claims, Net of Recoveries

The Utility’s Wildfire-related claims, net of recoveries decreased by $73 million, or 99%, in the three months ended September 30, 2025, compared to the same period in 2024.  The Utility recognized pre-tax charges of $75 million related to the 2019 Kincade fire in the three months ended September 30, 2024, with no comparable costs in the same period in 2025.

The Utility’s Wildfire-related claims, net of recoveries increased by $30 million, or 43%, in the nine months ended September 30, 2025, compared to the same period in 2024.  The Utility recognized pre-tax charges of $100 million related to the 2019 Kincade fire in the nine months ended September 30, 2025, as compared to pre-tax charges of $75 million related to the 2019 Kincade fire in the same period in 2024.

Wildfire Fund Expense

The Utility’s Wildfire Fund expense decreased by $53 million, or 38%, and $24 million, or 8%, in the three and nine months ended September 30, 2025, compared to the same periods in 2024.  These decreases were due to lower accelerated amortization 

associated with the Wildfire Fund receivable for the 2021 Dixie fire in the three and nine months ended September 30, 2025, compared to the same periods in 2024.

19

Depreciation, Amortization, and Decommissioning

The Utility's Depreciation, amortization and decommissioning expenses increased by