Company: PCG-PB
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001004980-25-000148
Chunk: 19

Company: PG&E Corp
Filing Date: 2025-10-23
Form: 10-Q
Item: Part II, Item 7
Chunk 19
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 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 $73 million, or 7%, and $168 million, or 5%, in the three and nine months ended September 30, 2025, compared to the same periods in 2024.  These increases were primarily due to the growth in plant balance from capital additions, partially offset by an increase in deferred depreciation expense for costs pending regulatory approval.

Interest Income

The Utility’s Interest income decreased by $62 million, or