Company: PCG-PB
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001004980-25-000132
Chunk: 219

Company: PG&E Corp
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1A
Chunk 219
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 Utility’s undiscounted future costs associated with fossil fuel-fired generation sites may increase by as much as $15 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 and 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 and $2.5 billion per non-nuclear incident for DCPP.  For the Humboldt Bay independent spent fuel storage installation, NEIL provides up to $50 million of coverage for nuclear and non-nuclear property damages.  NEIL also provides coverage for damages caused by acts of terrorism and cyberattacks at nuclear power plants.  Through NEIL, there is up to $3.2 billion available to the membership to cover this exposure.  These coverage amounts are shared by all NEIL members and all nuclear and non-nuclear property insurance policies issued by NEIL.  EMANI shares losses with NEIL, as part of the first $400 million of coverage within the current nuclear insurance program.  EMANI also provides an additional $200 million in excess insurance for property damage and business interruption losses incurred by the Utility if a nuclear or non-nuclear event were to occur at DCPP.  If NEIL losses in any policy year exceed accumulated funds, the Utility could be subject to a retrospective assessment.  If NEIL were to exercise this assessment, the maximum aggregate annual retrospective premium obligation for the Utility would be approximately $43 million.  For more information about the Utility’s nuclear insurance coverage, see Note 15 of the Notes to the Consolidated Financial Statements in Item 8 of the 2024 Form 10-K.

Purchase CommitmentsIn the ordinary course of business, the Utility enters into various agreements to purchase power and electric capacity; natural gas supply, transportation, and storage; nuclear fuel supply and services; and various other commitments.  As of December 31, 2024, the Utility had undiscounted future expected obligations of approximately