Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 1

Fill in this information to identify the case: 

Debtor Name PG&E Corporation and Pacific Gas and Electric Company 

United States Bankruptcy Court for the: Northern District of California San 

Francisco Division 

 (State) 

Case number: 19-30088 (DM) 

Official Form 426 

Periodic Report Regarding Value, Operations, and Profitability of Entities in 

Which the Debtor’s Estate Holds a Substantial or Controlling Interest 

 12/17 

This is the Periodic Report as of March 31, 2019 and December 31, 2018 on the value, operations, and profitability of 

those entities in which PG&E Corporation and Pacific Gas and Electric Company (collectively, the “Debtors”) 

individually or collectively hold a substantial or controlling interest (a “Controlled Non-Debtor Entity”), as required 

by Bankruptcy Rule 2015.3. 

The Debtors hold a substantial or controlling interest in the following entities: 

Name of Controlled Non-Debtor Entity Interest of the Debtor Tab # 

See Exhibit A-4 

This Periodic Report contains separate reports (Entity Reports) on the value, operations, and profitability of each 

Controlled Non-Debtor Entity. 

Each Entity Report consists of five exhibits. 

Exhibit A contains the most recently available: balance sheet, statement of income (loss), statement of cash flows, 

and a statement of changes in shareholders’ or partners’ equity (deficit) for the period covered by the Entity Report, 

along with summarized footnotes. 

Exhibit B describes the Controlled Non-Debtor Entity’s business operations. 

Exhibit C describes claims between the Controlled Non-Debtor Entity and any other Controlled Non-Debtor Entity. 

Exhibit D describes how federal, state or local taxes, and any tax attributes, refunds, or other benefits, have been 

allocated between or among the Controlled Non-Debtor Entity and any Debtor or any other Controlled Non-Debtor 

Entity and includes a copy of each tax sharing or tax allocation agreement to which the Controlled Non-Debtor 

Entity is a party with any other Controlled Non-Debtor Entity. 

Exhibit E describes any payment, by the Controlled Non-Debtor Entity, of any claims, administrative expenses or 

professional fees that have been or could be asserted against any Debtor, or the incurrence of any obligation to make 

such payments, together with the reason for the entity’s payment thereof or incurrence of any obligation with respect 

thereto. 

This Periodic Report must be signed by a representative of the trustee or debtor in possession. 

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 1 of

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 2

The undersigned, having reviewed the Entity Reports for each Controlled Non-Debtor Entity, and being familiar with the Debtors’ 

financial affairs, verifies under the penalty of perjury that to the best of his or her knowledge, (i) this Periodic Report and the 

attached Entity Reports are complete, accurate, and truthful to the best of his or her knowledge, and (ii) the Debtors did not cause 

the creation of any entity with actual deliberate intent to evade the requirements of Bankruptcy Rule 2015.3 

For non-individual 

Debtors:  _/s/ DAVID S. THOMASON___________ 

Signature of Authorized Individual 

David S. Thomason, Vice President, 

Controller, PG&E Corporation 

Vice President, Chief Financial Officer and 

Controller, Pacific Gas and Electric 

Company 

Printed name of Authorized Individual 

Date ___05/03/2019_______ 

MM/ DD /YYYY 

For individual Debtors:  _____________________________ 

Signature of Debtor 1 

_____________________________ 

Printed name of Debtor 1 

Date ______________ 

MM/ DD /YYYY 

 _____________________________ 

Signature of Debtor 2 

_____________________________ 

Printed name of Debtor 2 

Date ______________ 

MM/ DD /YYYY 

 

 

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 2 of

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 3

Exhibit A: Financial Statements 

General 

On January 29, 2019, PG&E Corporation (the “Corporation”) and its subsidiary, Pacific Gas and Electric Company (the “Utility”) 

(together with the Corporation, the “Debtors”), filed voluntary petitions for relief under chapter 11 of title 11 of the United States 

Code (the “Bankruptcy Code”) in the U.S. Bankruptcy Court for the Northern District of California (the “Bankruptcy Court”). The 

Corporation’s and the Utility’s Chapter 11 cases are being jointly administered under the caption In re: PG&E Corporation and Pacific 

Gas and Electric Company, Case No. 19-30088 (DM) (the “Chapter 11 Cases”). The Debtors continue to operate their businesses and 

manage their properties as debtors in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code. No trustee or 

examiner has been appointed in either of the Chapter 11 Cases. 

On February 12, 2019, the United States Trustee (the “U.S. Trustee”) appointed an Official Committee of Unsecured Creditors. On 

February 15, 2019, the U.S. Trustee appointed an Official Committee of Tort Claimants. 

Condensed Statements 

The condensed financial statements and supplemental information contained herein are unaudited, preliminary, and may not comply 

with generally accepted accounting principles in the United States of America (“U.S. GAAP”) in all material respects. Information is 

presented on the same basis as it is aggregated into the consolidated results of the Corporation and the Utility; however, such 

presentation may not be appropriate for each entity on a stand-alone basis. 

The unaudited condensed financial statements presented in this Periodic Report have been derived from the books and records of the 

Controlled Non-Debtor Entities. This information, however, has not been subject to procedures that would typically be applied to 

financial information presented in accordance with U.S. GAAP, and upon the application of such procedures, the Debtors and the 

Controlled Non Debtor Entities believe that the financial information could be subject to changes, and these changes could be 

material. The information furnished in this Periodic Report includes primarily normal recurring adjustments, but does not include all 

of the adjustments that would typically be made in accordance with U.S. GAAP. The results of operations contained herein are not 

necessarily indicative of results which may be expected from any other period or for the full year and may not necessarily reflect the 

results of operations of the Controlled Non-Debtor Entities in the future. 

The Debtors prepare their Statements of Cash Flows and Statements of Shareholder’s Equity solely on a consolidated basis; 

preparation of such statements on a stand-alone basis for each of the Controlled Non-Debtor Entities would require undue hardship. 

Accordingly, Statements of Cash Flows and Statements of Shareholder’s Equity for the Controlled Non- Debtor Entities have been 

omitted. 

Intercompany Transactions 

Receivables and payables between the Controlled Non-Debtor Entities and Debtors and/or among the Controlled Non-Debtor Entities 

have not been eliminated. No conclusion as to the legal obligation related to these intercompany transactions is made by the 

presentation herein. 

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 3 of

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 4

Valuation 

The valuation information provided herein is based on the book value of the Controlled Non-Debtor Entities (book value of assets less 

book value of liabilities). The Debtors do not maintain fair market value or other basis of valuation for these entities. 

 

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 4 of

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 5

Exhibit A-1: Balance Sheet as of 12/31/18 

Exhibit A-1 

Unaudited Balance Sheets 

as of March 31, 2019 

(in ones) PCG Capital, Inc 

Pacific Energy 

Capital IV, LLC 

PG&E 

Corporation 

Support Services, 

Inc.

PG&E 

Corporation 

Support Services 

II, Inc.

PG&E National 

Energy Group, 

LLC 

Cash and Cash Equivalents $ — $ — $ 47 $ 92,043 $ —

Accounts Receivable — — 1,076 7,830,302 —

Other Current Assets — — — 31,870 —

Current Assets — — 1,123 7,954,215 —

Electric — — — — —

Gas — — — — —

Construction Work in progress — — — — —

Other Plant in Service — — — 532,020 —

Property, Plant and Equipment — — — 532,020 —

Accumulated Depreciation — — — (532,020) —

Net Property, Plant and Equipment — — — — —

Other — — — — —

Other Noncurrent Assets — — — 2,125,867 —

Assets — — 1,123 10,080,081 —

Accounts Payable 10,061 — 3,767 7,737,573 —

Income Taxes Payable (787,788) — — 479,523 —

Other Current Liabilities — — 181,470

Current Liabilities (777,727) — 3,767 8,803,210 —

Long Term Debt — — — — —

Regulatory Liabilities — — — — —

Deferred Income Taxes (18,699,722) — — — —

Other Noncurrent Liabilities — — — — —

Noncurrent Liabilities (18,699,722) — — 1,728,548 —

Liabilities (19,477,449) — 3,767 10,531,758 —

Common Stock 22,482,418 — (811,006) (1,478,201) —

Additional Paid-in-Capital — — — — —

Reinvested Earnings (3,004,969) — 808,362 1,026,524 —

Total Equity 19,477,449 — (2,644) (451,677) —

Liabilities and Shareholders Equity $ — $ — $ 1,123 $ 10,080,081 $ —

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 5 of

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 6

Exhibit A-1 

Unaudited Balance Sheets 

as of March 31, 2019 

(in ones) 

Eureka Energy 

Company 

Midway Power, 

LLC 

Natural Gas 

Corporation of 

California

Alaska Gas 

Exploration 

Associates

Cash and Cash Equivalents $ — $ — $ — $ —

Accounts Receivable 329,511 — — —

Other Current Assets — — — —

Current Assets 329,511 — — —

Electric — — — —

Gas — — — —

Construction Work in progress — — — —

Other Plant in Service — — — —

Property, Plant and Equipment — — — —

Accumulated Depreciation — — — —

Net Property, Plant and Equipment — — — —

Other 3,706,965 4,438,677 — —

Other Noncurrent Assets 3,706,965 4,438,677 — —

Assets 4,036,477 4,438,677 — —

Accounts Payable 468,416 — — —

Income Taxes Payable (77,715) — — —

Other Current Liabilities — —

Current Liabilities 390,701 — — —

Long Term Debt — — — —

Regulatory Liabilities — — — —

Deferred Income Taxes — — — —

Other Noncurrent Liabilities — — — —

Noncurrent Liabilities — — — —

Liabilities 390,701 — — —

Common Stock 1,000 — — —

Additional Paid-in-Capital 3,734,531 26,112,410 — —

Reinvested Earnings (89,755) (21,673,733) — —

Total Equity 3,645,776 4,438,677 — —

Liabilities and Shareholders Equity $ 4,036,477 $ 4,438,677 $ — $ —

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 6 of

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 7

Exhibit A-1 

Unaudited Balance Sheets 

as of March 31, 2019 

(in ones) 

Pacific Energy 

Fuels Company Fuelco LLC 

Standard Pacific 

Gas Line 

Incorporated

STARS Alliance 

LLC 

Cash and Cash Equivalents $ — $ — $ 3,580,633 $ —

Accounts Receivable — — 78,951 —

Other Current Assets — — — —

Current Assets — — 3,659,584 —

Electric — — — —

Gas — — 59,285,858 —

Construction Work in progress — — 1,788,697 —

Other Plant in Service — — — —

Property, Plant and Equipment — — 61,074,554 —

Accumulated Depreciation — — (21,486,561) —

Net Property, Plant and Equipment — — 39,587,993 —

Other (494,541) — — —

Other Noncurrent Assets (494,541) — — —

Assets (494,541) — 43,247,577 —

Accounts Payable (129,324) — 209,097 —

Income Taxes Payable (132,974) — — —

Other Current Liabilities — —

Current Liabilities (262,298) — 209,097 —

Long Term Debt — — 28,373,639 —

Regulatory Liabilities — — (5,830,632) —

Deferred Income Taxes — — — —

Other Noncurrent Liabilities — — — —

Noncurrent Liabilities — — 22,543,007 —

Liabilities (262,298) — 22,752,104 —

Common Stock 10,000 — 1,400 —

Additional Paid-in-Capital 4,890,952 — 53,535,784 —

Reinvested Earnings (5,133,195) — (33,041,711) —

Total Equity (232,243) — 20,495,473 —

Liabilities and Shareholders Equity $ (494,541) $ — $ 43,247,577 $ —

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 7 of

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 8

Exhibit A-1 

Unaudited Balance Sheets 

as of December 31, 2018 

(in ones) PCG Capital, Inc 

Pacific Energy 

Capital IV, LLC 

PG&E 

Corporation 

Support Services, 

Inc.

PG&E 

Corporation 

Support Services 

II, Inc.

PG&E National 

Energy Group, 

LLC 

Cash and Cash Equivalents $ — $ — $ 47 $ 92,043 $ —

Accounts Receivable — — — 6,637,298 —

Other Current Assets — — — 34,233 —

Current Assets — — 47 6,763,574 —

Electric — — — — —

Gas — — — — —

Construction Work in progress — — — — —

Other Plant in Service — — — 532,020 —

Property, Plant and Equipment — — — 532,020 —

Accumulated Depreciation — — — (532,020) —

Net Property, Plant and Equipment — — — — —

Other — — — — —

Other Noncurrent Assets — — — — —

Assets — — 47 6,763,573 —

Accounts Payable 6,540 — 2,691 6,255,447 —

Income Taxes Payable (787,788) — — 469,800 —

Current Liabilities (781,248) — 2,691 6,858,061 —

Long Term Debt — — — — —

Regulatory Liabilities — — — — —

Deferred Income Taxes (18,699,722) — — — —

Other Noncurrent Liabilities — — — 361,789 —

Noncurrent Liabilities (18,699,722) — — 361,789 —

Liabilities (19,480,970) — 2,691 7,219,850 —

Common Stock 22,482,418 — (811,006) (1,455,024) —

Additional Paid-in-Capital — — — — —

Reinvested Earnings (3,001,448) — 808,362 998,747 —

Total Equity 19,480,970 — (2,644) (456,277) —

Liabilities and Shareholders Equity $ — $ — $ 47 $ 6,763,573 $ —

 

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 8 of

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 9

Exhibit A-1 

Unaudited Balance Sheets 

as of December 31, 2018 

(in ones) 

Eureka Energy 

Company 

Midway Power, 

LLC 

Natural Gas 

Corporation of 

California

Alaska Gas 

Exploration 

Associates

Cash and Cash Equivalents $ — $ — $ — $ —

Accounts Receivable 329,511 — — —

Other Current Assets — — — —

Current Assets 329,511 — — —

Electric — — — —

Gas — — — —

Construction Work in progress — — — —

Other Plant in Service — — — —

Property, Plant and Equipment — — — —

Accumulated Depreciation — — — —

Net Property, Plant and Equipment — — — —

Other 3,706,965 4,438,677 — —

Other Noncurrent Assets 3,706,965 4,438,677 — —

Assets 4,036,477 4,438,677 — —

Accounts Payable 422,902 — — —

Income Taxes Payable (77,715) — — —

Current Liabilities 345,187 — — —

Long Term Debt — — — —

Regulatory Liabilities — — — —

Deferred Income Taxes — — — —

Other Noncurrent Liabilities — — — —

Noncurrent Liabilities — — — —

Liabilities 345,187 — — —

Common Stock 1,000 — 100,000 —

Additional Paid-in-Capital 3,734,531 26,112,410 3,037,432 —

Reinvested Earnings (44,241) (21,673,733) (3,137,432) —

Total Equity 3,691,290 4,438,677 — —

Liabilities and Shareholders Equity $ 4,036,477 $ 4,438,677 $ — $ —

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 9 of

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 10

Exhibit A-1 

Unaudited Balance Sheets 

as of December 31, 2018 

(in ones) 

Pacific Energy 

Fuels Company Fuelco LLC 

Standard Pacific 

Gas Line 

Incorporated

STARS Alliance 

LLC 

Cash and Cash Equivalents $ — $ — $ 3,852,964 $ —

Accounts Receivable — — 394,568 —

Other Current Assets — — — —

Current Assets — — 4,247,532 —

Electric — — — —

Gas — — 59,282,551 —

Construction Work in progress — — 1,641,783 —

Other Plant in Service — — — —

Property, Plant and Equipment — — 60,924,334 —

Accumulated Depreciation — — (21,248,929) —

Net Property, Plant and Equipment — — 39,675,406 —

Other (465,331) — — —

Other Noncurrent Assets (465,331) — — —

Assets (465,331) — 43,922,937 —

Accounts Payable (130,617) — 619,168 —

Income Taxes Payable (132,974) — — —

Current Liabilities (263,590) — 619,168 —

Long Term Debt — — 28,373,639 —

Regulatory Liabilities — — (5,877,537) —

Deferred Income Taxes — — — —

Other Noncurrent Liabilities — — — —

Noncurrent Liabilities — — 22,496,102 —

Liabilities (263,590) — 23,115,270 —

Common Stock 10,000 — 1,400 —

Additional Paid-in-Capital 4,890,952 — 53,535,784 —

Reinvested Earnings (5,102,693) — (32,729,517) —

Total Equity (201,741) — 20,807,667 —

Liabilities and Shareholders Equity $ (465,331) $ — $ 43,922,937 $ —

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 10

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 11

Exhibit A-2: Statement of Income (Loss) for period ending 12/31/18 

Exhibit A-2 

Unaudited Statements of Income 

For the year ended March 31, 2019 

PCG Capital, Inc 

Pacific Energy 

Capital IV, LLC 

PG&E 

Corporation 

Support Services, 

Inc. 

PG&E 

Corporation 

Support Services 

II, Inc. 

PG&E National 

Energy Group, 

LLC 

Electric $ — $ — $ — $ 37,500 $ —

Natural gas — — — — —

Total operating revenues — — — 37,500 —

Operating Expenses 

Cost of electricity — — — — —

Cost of natural gas — — — — —

Operating and maintenance 3,521 — — — —

Depreciation, amortization, and 

decommissioning — — — — —

Total operating expenses 3,521 — — — —

Operating Income (Loss) (3,521) — — 37,500 —

Interest income — — — — —

Interest expense — — — — —

Other income, net — — — — —

Income (Loss) Before Income Taxes (3,521) — — 37,500 —

Income tax provision (benefit) — — — 9,723 —

Net Income (Loss) (3,521) — — 27,777 —

Income (Loss) Available for Common 

Stock $ (3,521) $ — $ — $ 27,777 $ —

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 11

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 12

Exhibit A-2 

Unaudited Statements of Income 

For the year ended March 31, 2019 

Eureka Energy 

Company 

Midway Power, 

LLC 

Natural Gas 

Corporation of 

California

Alaska Gas 

Exploration 

Associates

Electric $ — $ — $ — $ —

Natural gas — — — —

Total operating revenues — — — —

Operating Expenses 

Cost of electricity — — — —

Cost of natural gas — — — —

Operating and maintenance 45,514 — — —

Depreciation, amortization, and decommissioning — — — —

Total operating expenses 45,514 — — —

Operating Income (Loss) (45,514) — — —

Interest income — — — —

Interest expense — — — —

Other income, net — — — —

Income (Loss) Before Income Taxes (45,514) — — —

Income tax provision (benefit) — — — —

Net Income (Loss) (45,514) — — —

Income (Loss) Available for Common Stock $ (45,514) $ — $ — $ —

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 12

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 13

Exhibit A-2 

Unaudited Statements of Income 

For the year ended March 31, 2019 

Pacific Energy 

Fuels Company Fuelco LLC 

Standard Pacific 

Gas Line 

Incorporated 

STARS Alliance 

LLC 

Electric $ — $ — $ — $ —

Natural gas — — 106,139 —

Total operating revenues — — 106,139 —

Operating Expenses 

Cost of electricity 29,209 — — —

Cost of natural gas — — — —

Operating and maintenance 1,292 — 135,265 —

Depreciation, amortization, and decommissioning — — 283,069 —

Total operating expenses 30,501 — 418,333 —

Operating Income (Loss) (30,501) — (312,194) —

Interest income — — — —

Interest expense — — — —

Other income, net — — — —

Income (Loss) Before Income Taxes (30,501) — (312,194) —

Income tax provision (benefit) — — — —

Net Income (Loss) (30,501) — (312,194) —

Income (Loss) Available for Common Stock $ (30,501) $ — $ (312,194) $ —

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 13

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 14

Exhibit A-2 

Unaudited Statements of Income 

For the year ended December 31, 2018 

PCG Capital, Inc 

Pacific Energy 

Capital IV, LLC 

PG&E 

Corporation 

Support Services, 

Inc. 

PG&E 

Corporation 

Support Services 

II, Inc. 

PG&E National 

Energy Group, 

LLC 

Electric $ — $ — $ — $ 150,000 $ —

Natural gas — — — — —

Total operating revenues — — — 150,000 —

Operating Expenses 

Cost of electricity — — — — —

Cost of natural gas — — — — —

Operating and maintenance 14,147 — 6,966 (2,300) —

Depreciation, amortization, and 

decommissioning — — — 2,300 —

Total operating expenses 14,147 — 6,966 — —

Operating Income (Loss) (14,147) — (6,966) 150,000 —

Interest income — — — — —

Interest expense — — — — —

Other income, net — — — — —

Income (Loss) Before Income Taxes (14,147) — (6,966) 150,000 —

Income tax provision (benefit) (3,959) — — 39,432 —

Net Income (Loss) (10,188) — (6,966) 110,568 —

Preferred stock dividend requirement — — — — —

Income (Loss) Available for Common 

Stock $ (10,188) $ — $ (6,966) $ 110,568 $ —

 

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 14

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 15

Exhibit A-2 

Unaudited Statements of Income 

For the year ended December 31, 2018 

Eureka Energy 

Company 

Midway Power, 

LLC 

Natural Gas 

Corporation of 

California

Alaska Gas 

Exploration 

Associates

Electric $ 328,650 $ — $ — $ —

Natural gas — — — —

Total operating revenues 328,650 — — —

Operating Expenses 

Cost of electricity — — — —

Cost of natural gas — — — —

Operating and maintenance 414,679 27,226 — —

Depreciation, amortization, and decommissioning 7,051 — — —

Total operating expenses 421,730 27,226 — —

Operating Income (Loss) (93,081) (27,226) — —

Interest income — — — —

Interest expense — — — —

Other income, net — — — —

Income (Loss) Before Income Taxes (93,081) (27,226) — —

Income tax provision (benefit) (26,044) — — —

Net Income (Loss) (67,037) (27,226) — —

Preferred stock dividend requirement — — — —

Income (Loss) Available for Common Stock $ (67,037) $ (27,226) $ — $ —

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 15

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 16

Exhibit A-2 

Unaudited Statements of Income 

For the year ended December 31, 2018 

Pacific Energy 

Fuels Company Fuelco LLC 

Standard Pacific 

Gas Line 

Incorporated 

STARS Alliance 

LLC 

Electric $ — $ — $ — $ —

Natural gas — — 1,633,514 —

Total operating revenues — — 1,633,514 —

Operating Expenses 

Cost of electricity 474,631 — — —

Cost of natural gas — — — —

Operating and maintenance 4,809 — 1,558,230 —

Depreciation, amortization, and decommissioning — — 1,131,642 —

Total operating expenses 479,440 — 2,689,872 —

Operating Income (Loss) (479,440) — (1,056,357) —

Interest income — — — —

Interest expense (4,263) — — —

Other income, net — — — —

Income (Loss) Before Income Taxes (475,177) — (1,056,357) —

Income tax provision (benefit) (72,892) — — —

Net Income (Loss) (402,286) — (1,056,357) —

Preferred stock dividend requirement — — — —

Income (Loss) Available for Common Stock $ (402,286) $ — $ (1,056,357) $ —

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 16

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 17

Exhibit A-3: Statement of Cash Flows for [Name of Controlled Non-Debtor Entity] for period ending [date]

N/A 

 

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 18

Exhibit A-4: Statement of Changes in Shareholders’/Partners’ Equity (Deficit)for period ending 12/31/18

Exhibit A-4 

Valuation Estimate 

As of March 31, 2019 and December 31, 2018 

Net Book Value at 

Name of Entity Interest of the Estate 

March 31, 

2019

December 31, 

2018

 PCG Capital, Inc (Formerly PG&E Ventures, Inc.) 100% $ 19,477,449 $ 19,480,970

 Pacific Energy Capital IV, LLC 100% — —

 PG&E Corporation Support Services, Inc. 100% (2,644) (2,644)

 PG&E Corporation Support Services II, Inc. 100% (451,676) (456,277)

 PG&E National Energy Group, LLC 100% — —

 Eureka Energy Company 100% 3,645,776 3,691,290

 Midway Power, LLC 100% 4,438,677 4,438,677

 Morro Bay Mutual Water Company Member N/A (1) N/A (1)

 Moss Landing Mutual Water Company Member N/A (1) N/A (1)

 Natural Gas Corporation of California 100% — —

 Alaska Gas Exploration Associates 50% — —

 Pacific Energy Fuels Company 100% — (201,741)

 Fuelco LLC 50% — —

 Standard Pacific Gas Line Incorporated 85.71% 20,495,473 20,807,667

 STARS Alliance LLC 25% $ — $ —

(1) Third-party members declined the Debtors’ request to publish financial information for this entity.

 

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 19

Exhibit B: Description of Operations

Description of Operations 

Name of Entity Description of Operations 

 PCG Capital, Inc (Formerly PG&E Ventures, Inc.) Formed for the purpose of holding interests in other businesses, 

financing and other transactions. Rule IIB Affiliate (CPUC).

 Pacific Energy Capital IV, LLC Formed to establish and manage a portfolio of passive financial 

investments in growing energy companies. Rule IIB Affiliate.

 PG&E Corporation Support Services, Inc. A wholly-owned subsidiary of PG&E Corporation that provides 

general corporate support services to PG&E Corporation and certain 

of its subsidiaries. - Rule II. B Affiliate (CPUC).

 PG&E Corporation Support Services II, Inc. A wholly-owned subsidiary of PG&E Corporation that provides 

general corporate support services, to PG&E Corporation and its 

subsidiaries outside the State of California.

 PG&E National Energy Group, LLC Formed for the limited purpose of holding stock in National Energy 

& Gas Transmission, Inc. (Equity interest in PG&E National Energy 

Group, Inc. [NEGT] dissolved through bankruptcy on 10/29/04).

 Eureka Energy Company Holds the Marre Ranch property in San Luis Obispo County. 

* Midway Power, LLC A direct subsidiary of Pacific Gas and Electric Company formed to 

be the ownership entity for real estate and licenses for a suspended 

development project, pursuant to a purchase and sale agreement 

dated July 17, 2008.

* Morro Bay Mutual Water Company Non-profit mutual benefit corporation. Formed to jointly hold 

property rights such as easements in connection with the divestiture 

of the Morro Bay Power Plant.

* Moss Landing Mutual Water Company Non-profit mutual benefit corporation. Formed to jointly hold 

property rights such as easements in connection with the divestiture 

of the Moss Landing Power Plant.

* Natural Gas Corporation of California Acts as the vehicle for the amortization of the remaining GEDA (Gas 

Exploration Development Account) assets.

 Alaska Gas Exploration Associates To explore for, develop, produce, acquire, and market oil and gas 

reserves in the Cook Inlet area of Alaska, pursuant to the CPUC’s 

GEDA procedures applicable to the respective partners, to support 

the South Alaska LNG project. Currently inactive. - Rule II. B 

Affiliate (CPUC).

* Pacific Energy Fuels Company A wholly-owned PG&E subsidiary created to own and finance 

nuclear fuel inventory previously owned by Pacific Energy Trust. 

Currently inactive. - Rule II. B Affiliate (CPUC).

 Fuelco LLC Joint Venture LLC formed between Union Electric Company d/b/a 

Ameren Missouri, and Pacific Energy Fuels Company for purposes 

of sharing costs and reducing fuel acquisition costs. - Rule II. B 

Affiliate (CPUC). 

* Standard Pacific Gas Line Incorporated Transportation of natural gas in California; Chevron Pipe Line 

Company owns 14.29% interest.

* STARS Alliance LLC An alliance of Pacific Gas and Electric Company, and three other 

nuclear plant operators. Formed to increase efficiency and reduce 

costs related to the operation of the members’ nuclear generation 

facilities. Rule II.B. Affiliate (CPUC). 

* Subsidiary of Pacific Gas and Electric Company 

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 20

Exhibit C: Description of Intercompany Claims

The Debtors are working to identify claims, if any, between the Controlled Non-Debtor Entities and will supplement, modify, or 

amend this Periodic Report as necessary as such information becomes available. 

 

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 21

Exhibit D: Allocation of Tax Liabilities and Assets

The Debtors allocate income tax liability between themselves, pursuant to a tax sharing agreement. To the extent non-debtors are 

active and owned by Debtors, they are included in the Debtors’ tax sharing agreement. The tax sharing agreement will be provided to 

the U.S. Trustee upon request. 

Case: 19-30088 Doc# 1845 Filed: 05/03/19 Entered: 05/03/19 18:15:16 Page 21

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Debtor Name PG&E Corporation; Pacific Gas and Electric Company Case number 19-30088 (DM)

Official Form 426 Periodic Report About Controlled Non-Debtor Entities’ Value, Operations, and Profitability page 22

Exhibit E: Description of Controlled Non-Debtor Entity’s payments of Administrative Expenses, or 

Professional Fees otherwise payable by a Debtor

The Debtors are working to identify payments (or the occurrence of any obligations to make payments), if any, by a Controlled NonDebtor Entity of claims, administrative expenses, or professionals fees that have been or could be asserted against either of the 

Debtors and will supplement, modify, or amend this Periodic Report as necessary as such information becomes available. 

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