EXHIBIT 99.1

 MONTHLY OPERATING REPORT

 (GENERAL BUSINESS CASE) 

SUMMARY OF FINANCIAL STATUS

MONTH ENDED: August 31, 2019 PETITION DATE: January 29, 2019

1.

Debtors in possession (or trustee) hereby submit this Monthly Operating Report on the Accrual Basis of accounting (or if 

checked here the Office of the U.S. Trustee or the Court has approved the Cash Basis of Accounting for the Debtors). 

Dollars reported in $ millions

2. Asset and Liability Structure End of Current End of Prior As of Petition 

Month Month Filing (1)

a. Current Assets $ 11,713 $ 11,743 $ 9,091

b. Total Assets $ 85,169 $ 84,830 $ 79,809

c. Current Liabilities $ 6,469 $ 6,248 $ 3,740

d. Total Liabilities $ 74,332 $ 74,130 $ 66,888

3. Statement of Cash Receipts & Disbursements for Month

End of Current 

Month

End of Prior 

Month

Cumulative

(Case to Date)

a. Total Receipts $ 2,084 $ 2,027 $ 15,148

b. Total Disbursements $ (2,384) $ (2,379) $ (13,273)

c. Excess (Deficiency) of Receipts Over Disbursements (a - 

b) $ (300) $ (352) $ 1,875

d. Cash Balance Beginning of Month $ 3,085 $ 3,437 $ 910

e. Cash Balance End of Month (c + d) $ 2,785 $ 3,085 $ 2,785

End of Current 

Month

End of Prior 

Month

Cumulative

(Case to Date)(1)

4. Profit/(Loss) from the Statement of Operations $ 135 $ 108 $ (2,178)

5. Account Receivables (Pre and Post-Petition) $ 5,244 $ 5,025

6. Post-Petition Liabilities $ 3,766 $ 3,633

7. Past Due Post-Petition Account Payables (over 30 days)(2)$ — $ —

(1)

Data as of January 29, 2019 is not available, January 31, 2019 data used as Petition Date.

(2)

In the ordinary course, in most instances the Debtors’ process for validating items for payment to suppliers requires the matching of a vendor invoice with a 

purchase order and, additionally, with a goods receipt (reflecting the Debtors’ acknowledgment of the delivery of goods or completion of services). That 

matching process extends the timeline for a vendor invoice to be cleared for payment until such time as the validation operation is fully complete. The 

Debtors are actively engaged on an ongoing basis with their supplier base to minimize the invoice matching and validation time frame. To the best of the 

Debtors’ knowledge, in all instances where the invoice matching process has been satisfactorily completed for post-petition vendor activity, the Debtors do 

not have any past due post-petition accounts payable as of August 31, 2019.

1

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 1 of

18
Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 2 of

18
UNAUDITED STATEMENTS OF INCOME

FOR THE MONTH ENDED AUGUST 31, 2019

(in millions) Reference

Pacific Gas & 

Electric 

Company

PG&E 

Corporation

PG&E 

Corporation 

Consolidated

Operating Revenues

Electric $ 1,138 $ — $ 1,138

Natural gas 316 — 316

Total operating revenues 1,454 — 1,454

Operating Expenses

Cost of electricity 369 — 369

Cost of natural gas 21 — 21

Operating and maintenance 651 (2) 649

Depreciation, amortization, and decommissioning 269 — 269

Total operating expenses 1,310 (2) 1,308

Operating Income 144 2 146

Interest income 7 — 5

Interest expense (17) — (20)

Other income, net 19 4 20

Reorganization items, net Item 15 (20) (2) (34)

Income Before Income Taxes 133 4 117

Income tax benefit — 1 1

Net Income 133 3 116

Preferred stock dividend requirement 1 — 1

Income Available for Common Stock $ 132 $ 3 $ 135

3

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 3 of

18
UNAUDITED STATEMENTS OF INCOME

PETITION DATE THROUGH AUGUST 31, 2019

(in millions) Reference

Pacific Gas & 

Electric 

Company

PG&E 

Corporation

PG&E 

Corporation 

Consolidated

Operating Revenues

Electric $ 8,052 $ — $ 8,052

Natural gas 2,853 — 2,853

Total operating revenues 10,905 — 10,905

Operating Expenses

Cost of electricity 2,207 — 2,207

Cost of natural gas 492 — 492

Operating and maintenance 5,377 (17) 5,361

Wildfire-related claims, net of insurance 3,900 — 3,900

Depreciation, amortization, and decommissioning 2,130 — 2,129

Total operating expenses 14,106 (17) 14,089

Operating Income (Loss) (3,201) 17 (3,184)

Interest income 56 1 57

Interest expense (197) (2) (199)

Other income, net 168 11 179

Reorganization items, net Item 15 (223) (16) (239)

Income (Loss) Before Income Taxes (3,397) 11 (3,386)

Income tax provision (benefit) (1,088) 4 (1,217)

Net Income (Loss) (2,309) 7 (2,169)

Preferred stock dividend requirement 9 — 9

Income Available for Common Stock $ (2,318) $ 7 $ (2,178)

4

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 4 of

18
UNAUDITED BALANCE SHEETS

AS OF AUGUST 31, 2019

(in millions) Reference

Pacific Gas & 

Electric 

Company

PG&E 

Corporation

PG&E 

Corporation 

Consolidated

ASSETS

Current Assets

Cash and cash equivalents

Items 10 

and 11 $ 2,354 $ 430 $ 2,783

Accounts receivable

Customers (net of allowance for doubtful 

accounts of $44) Item 4 1,433 — 1,433

Accrued unbilled revenue 1,065 — 1,065

Regulatory balancing accounts 1,995 — 1,995

Other 2,757 106 2,746

Regulatory assets 199 — 199

Inventories Item 3

Gas stored underground and fuel oil 107 — 107

Materials and supplies 522 — 522

Income taxes receivable 262 2 264

Other 588 11 599

Total current assets 11,282 549 11,713

Property, Plant, and Equipment

Electric 61,442 — 61,442

Gas 22,691 — 22,691

Construction work in progress 2,608 — 2,608

Other Plant in Service 18 2 20

Total property, plant, and equipment 86,759 2 86,761

Accumulated depreciation (25,748) (2) (25,750)

Net property, plant, and equipment Item 7 61,011 — 61,011

Other Noncurrent Assets

Regulatory assets 5,356 — 5,356

Nuclear decommissioning trusts 3,070 — 3,070

Operating lease right of use asset 2,489 9 2,497

Income taxes receivable 67 79 147

Other 1,230 12,897 1,375

Total other noncurrent assets 12,212 12,985 12,445

TOTAL ASSETS $ 84,505 $ 13,534 $ 85,169

5

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 5 of

18
UNAUDITED BALANCE SHEETS

AS OF AUGUST 31, 2019

(in millions) Reference

Pacific Gas & 

Electric 

Company

PG&E 

Corporation

PG&E 

Corporation 

Consolidated

LIABILITIES AND SHAREHOLDERS’ 

EQUITY

Current Liabilities

Short-term borrowings $ — $ — $ —

Long-term debt, classified as current — — —

Accounts payable Item 5

Trade creditors 1,921 — 1,921

Regulatory balancing accounts 1,664 — 1,664

Other 703 39 625

Operating lease liabilities 548 3 551

Disputed claims and customer refunds — — —

Interest payable 5 — 5

Other 1,720 (17) 1,703

Total current liabilities 6,561 25 6,469

Noncurrent Liabilities

Long-term debt — — —

Debtor-in-possession financing Item 6 1,500 — 1,500

Regulatory liabilities 9,069 — 9,069

Pension and other postretirement benefits 1,962 — 1,962

Asset retirement obligations 6,152 — 6,152

Deferred income taxes Item 8 2,458 (119) 2,339

Operating lease liabilities 1,941 6 1,946

Other 2,310 59 2,339

Total noncurrent liabilities 25,392 (54) 25,307

Liabilities Subject to Compromise(1)

Item 9 41,773 783 42,556

Shareholders’ Equity

Preferred stock 258 — —

Common stock 1,322 13,034 13,014

Additional paid-in capital 8,550 — —

Reinvested earnings 650 (245) (2,420)

Accumulated other comprehensive (loss) income (1) (9) (9)

Total shareholders’ equity 10,779 12,780 10,585

Noncontrolling Interest - Preferred Stock of 

Subsidiary — — 252

TOTAL LIABILITIES AND SHAREHOLDERS’ 

EQUITY $ 84,505 $ 13,534 $ 85,169

(1)

 The $11 billion settlement set forth in the RSA is not reflected in the unaudited balance sheets as of August 31, 2019 included in this Monthly Operating 

Report. For more information regarding the Chapter 11 Cases, see Note 2 below.

6

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 6 of

18
1. BASIS OF PRESENTATION

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 Debtors’ 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 

(the “UCC”). On February 15, 2019, the U.S. Trustee appointed an Official Committee of Tort Claimants (the “TCC”).

Debtor-in-Possession Financial Statements

Financial Accounting Standards Board Accounting Standards Codification 852 (Reorganizations) (“ASC 852”), which is 

applicable to companies in Chapter 11, requires that financial statements for periods after the filing of a Chapter 11 petition 

distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the 

business. The financial statements have been prepared in accordance with ASC 852. The accompanying financial statements 

have been prepared solely for purposes of complying with the monthly operating requirements applicable in the Debtors’ 

Chapter 11 Cases (the “Monthly Operating Reports”). The Debtors caution investors and potential investors not to place undue 

reliance upon the information contained in the Monthly Operating Reports, which was not prepared for the purpose of 

providing the basis for an investment decision relating to any securities of the Debtors.

The financial information contained in the Monthly Operating Reports is unaudited, limited in scope, and as such, has not been 

subject to procedures that would typically be applied to financial statements in accordance with accounting principles generally 

accepted in the United States of America. The Monthly Operating Reports should not be relied upon by any persons for 

information relating to current or future financial condition, events, or performance of the Corporation and the Utility and any 

of their non-debtor subsidiaries, as the results of operations contained in the Monthly Operating Reports are not necessarily 

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

combined results of operations, financial position, and schedule of receipts and disbursements in the future. These unaudited 

financial statements were prepared using certain assumptions and estimates. These assumptions and estimates are subject to 

revision. Further, the amounts shown in this statement may differ materially due to adjustments in accruals, changes in facts 

and circumstances, changes in estimates, further analysis, and other factors.

The Utility’s unaudited financial statements reflected under the column “Pacific Gas and Electric Company” are presented on a 

consolidated basis and include the accounts of the Utility and the following subsidiaries of the Utility that individually and in 

aggregate are immaterial: Eureka Energy Company, Midway Power, LLC, Pacific Energy Fuels Company, and Standard 

Pacific Gas Line Incorporated.

The Corporation’s unaudited financial statements reflected under the column “PG&E Corporation” are presented on a 

consolidated basis and include the accounts of the following subsidiaries of the Corporation that individually and in aggregate 

are immaterial: PCG Capital, Inc., PG&E Corporation Support Services, Inc., and PG&E Corporation Support Services II, Inc. 

The Corporation’s unaudited financial statements reflected under the column “PG&E Corporation” exclude the accounts of the 

Utility.

The Corporation’s unaudited financial statements reflected under the column “PG&E Corporation, Consolidated” are presented 

on a consolidated basis and include the accounts of the Corporation, the Utility, and other wholly owned and controlled 

subsidiaries. 

These unaudited financial statements differ from the requirements of generally accepted accounting principles in that they 

exclude certain financial statements (statements of cash flows, shareholders’ equity, and other comprehensive income), relevant 

footnotes and certain reclassifications.

These unaudited financial statements were prepared using certain assumptions and estimates. These assumptions and estimates 

are subject to revision. Further, the amounts shown in this statement, when reported on a quarterly basis, may differ materially 

due to adjustments in accruals, changes in facts and circumstances, changes in estimates, further analysis, and other factors.

7

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 7 of

18
Liabilities Subject to Compromise 

As a result of the Chapter 11 Cases, the payment of prepetition indebtedness is subject to compromise or other treatment under 

a plan of reorganization. The determination of how liabilities will ultimately be settled or treated cannot be made until the 

Bankruptcy Court confirms a Chapter 11 plan of reorganization and such plan becomes effective. Accordingly, the ultimate 

amount of such liabilities is not determinable at this time. ASC 852 requires prepetition liabilities that are subject to 

compromise to be reported at the amounts expected to be allowed, even if they may be settled for lesser amounts. The amounts 

currently classified as liabilities subject to compromise are preliminary and may be subject to future adjustments depending on 

the Bankruptcy Court actions, further developments with respect to disputed claims, determinations of the secured status of 

certain claims, the values of any collateral securing such claims, rejection of executory contracts, continued reconciliation or 

other events. 

Reorganization Items 

ASC 852 requires expenses and income directly associated with the Chapter 11 Cases to be reported separately in the income 

statement. Reorganization items are reported net and include expenses related to legal advisory and representation services, 

other professional consulting and advisory services, debtor-in-possession financing fees and changes in liabilities subject to 

compromise recognized as there are changes in amounts expected to be allowed, net of interest income.

Post-Petition Liabilities

Post-petition liabilities reflected in the Monthly Operating Report include Accounts payable – trade creditors, Accounts payable 

– other, and Other current liabilities, excluding amounts pertaining to regulatory liabilities.

2. CHAPTER 11 FILING

Background and First Day Motions

On January 29, 2019, the Debtors filed the Chapter 11 Cases with the Bankruptcy Court. The Debtors continue to operate their 

businesses as debtors in possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable 

provisions of the Bankruptcy Code and orders of the Bankruptcy Court.

On January 31, 2019, the Bankruptcy Court approved, on an interim basis, certain motions (the “First Day Motions”) 

authorizing, but not directing, PG&E Corporation and the Utility to, among other things, (a) secure $5.5 billion of debtor-inpossession financing; (b) continue to use PG&E Corporation’s and the Utility’s cash management system; and (c) pay certain 

pre-petition claims relating to (i) certain safety, reliability, outage, and nuclear facility suppliers; (ii) shippers, warehousemen, 

and other lien claimants; (iii) taxes; (iv) employee wages, salaries, and other compensation and benefits; and (v) customer 

programs, including public purpose programs. The First Day Motions were subsequently approved by the Bankruptcy Court on 

a final basis at hearings on February 27, 2019, March 12, 2019, March 13, 2019, and March 27, 2019.

Exclusivity Motions

On May 23, 2019, the Bankruptcy Court entered an order (the “Exclusivity Order”) pursuant to section 1121(d) of the 

Bankruptcy Code, extending PG&E Corporation’s and the Utility’s exclusive periods in which to file a Chapter 11 plan of 

reorganization (the “Exclusive Filing Period”) and solicit acceptances thereof (the “Exclusive Solicitation Period”). Pursuant to 

the Exclusivity Order, PG&E Corporation’s and the Utility’s Exclusive Filing Period is extended to, and including, September 

26, 2019, and PG&E Corporation’s and the Utility’s Exclusive Solicitation Period is extended to, and including, November 26, 

2019.

8

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 8 of

18
On June 25, 2019, the Ad Hoc Committee of Senior Unsecured Noteholders of the Utility (the “Ad Hoc Noteholder 

Committee”) submitted a motion, pursuant to section 1121(d)(1) of the Bankruptcy Code, for the entry of an order terminating 

the Exclusive Filing Period and the Exclusive Solicitation Period. The Ad Hoc Noteholder Committee annexed to its motion a 

“Term Sheet for Plan of Reorganization.” On July 17, 2019, the Ad Hoc Noteholder Committee filed with the Bankruptcy 

Court an amended version of the term sheet, along with a commitment letter with respect to certain financings described 

therein. Certain third parties have filed joinders and statements in support with the Bankruptcy Court with respect to the Ad 

Hoc Noteholder Committee’s motion, but such parties have not taken any position on the plan construct described by the term 

sheet. These third parties include TURN, two collective bargaining units representing the Utility’s employees, and the UCC. 

On July 18, 2019, the Debtors filed an objection to the Ad Hoc Noteholder Committee’s motion with the Bankruptcy Court, 

requesting that the motion be denied. Also on July 18, 2019, the Ad Hoc Group of Subrogation Claim Holders (the “Ad Hoc 

Subrogation Group”), the TCC, and certain owners of common stock of the Corporation (the “Shareholder Group”) filed 

objections to the Ad Hoc Noteholder Committee’s motion with the Bankruptcy Court. At a hearing on July 24, 2019, the 

Bankruptcy Court granted an oral motion of the CPUC and the Governor’s office to adjourn the hearing on the Ad Hoc 

Noteholder Committee’s motion from July 24, 2019 to August 13, 2019, to allow the Debtors, the CPUC, the Governor’s 

office, and other parties in interest time to engage in discussions regarding the formulation of a potential protocol for the 

efficient submission and consideration of Chapter 11 plan proposals. On August 7, 2019, the Ad Hoc Noteholder Committee 

submitted a statement with the Bankruptcy Court, criticizing the protocol proposed by the CPUC and including as an exhibit its 

own proposed “Alternative Protocol” to govern a competitive plan process. In addition, the Ad Hoc Noteholder Committee 

annexed to its statement a second amended version of the term sheet and a revised version of the commitment letter. On that 

same date, the Ad Hoc Subrogation Group withdrew its objection to the Ad Hoc Noteholder Committee’s motion. On August 

9, 2019, the CPUC advised the Bankruptcy Court that the parties were unable to reach agreement on a protocol for the 

submission of Chapter 11 plan proposals.

On July 23, 2019, the Ad Hoc Subrogation Group submitted its own motion, pursuant to section 1121(d)(1) of the Bankruptcy 

Code, to terminate the Exclusive Filing Period and the Exclusive Solicitation Period, which included as an exhibit a 

“Restructuring Term Sheet.” On August 6, 2019, the Debtors filed an objection to the Ad Hoc Subrogation Group’s motion 

with the Bankruptcy Court, requesting that the motion be denied. Also on August 6, 2019, the UCC filed a statement in 

opposition to the Ad Hoc Subrogation Group’s motion, and the Shareholder Group filed an objection to the Ad Hoc 

Subrogation Group’s motion, both requesting that the motion be denied.

On August 12, 2019, the UCC submitted a proposed competing plan scheduling order for consideration by the Bankruptcy 

Court. Also on that date, the Debtors filed a statement in support of their opposition to the motions to terminate exclusivity 

filed by the Ad Hoc Noteholder Committee and the Ad Hoc Subrogation Group, to which the Debtors annexed their own 

proposed timeline for the submission and confirmation of their plan of reorganization.

On August 16, 2019, the Bankruptcy Court issued decisions in which it denied the motions to terminate exclusivity, and as 

discussed below, granted the motions to lift the stay on the 2017 Tubbs fire to allow a state court jury trial for certain preference 

plaintiffs.

On September 19, 2019, the TCC and the Ad Hoc Noteholder Committee filed a joint motion to terminate the Debtors’ 

exclusive periods to file and solicit acceptances of a plan of reorganization, which included as an exhibit a “Term Sheet for Plan 

of Reorganization.” The TCC and the Ad Hoc Noteholder Committee sought to have the motion considered on shortened 

notice, which the Bankruptcy Court denied. The Bankruptcy Court instead set the motion for hearing on October 8, 2019 with 

an objection deadline of October 1, 2019. On September 25, 2019, the TCC and Ad Hoc Noteholder Committee filed an 

amended plan term sheet, which amended the term sheet previously annexed to their joint motion. The hearing on the joint 

motion to terminate exclusivity filed by the TCC and the Ad Hoc Noteholder Committee was rescheduled for October 7, 2019, 

with an objection deadline of October 4, 2019.

On September 25, 2019, the Debtors filed a motion seeking a further extension of their exclusive periods in which to file and 

solicit a chapter 11 plan of reorganization pursuant to section 1121(d) of the Bankruptcy Code [Docket No. 4005]. A hearing 

on the motion is scheduled for October 23, 2019.

9

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 9 of

18
Motions to Lift the Automatic Stay for Certain Tubbs Fire-Related Claims

On July 2, 2019, the TCC submitted a motion, pursuant to section 362(d)(1) of the Bankruptcy Code, for entry of an order 

terminating the automatic stay to permit certain individual plaintiffs (the “Tubbs Preference Plaintiffs”) to proceed to a jury trial 

on their claims against the Debtors arising from the Tubbs fire, and to request the San Francisco Superior Court in the 

coordinated litigation for the 2017 Northern California wildfires to order one or more of the cases of the Tubbs Preference 

Plaintiffs to trial with preference pursuant to California Code of Civil Procedure section 36. On July 9, 2019, the TCC 

submitted an amended motion to request relief from the stay with respect to additional individual plaintiffs to proceed to a jury 

trial on their claims against the Debtors arising from the Tubbs fire. On July 3, 2019, the Ad Hoc Subrogation Group submitted 

a motion for relief from the automatic stay to permit certain of the Ad Hoc Subrogation Group’s members to pursue their claims 

against the Debtors regarding the issue of the Debtors’ liability for the Tubbs fire in the San Francisco Superior Court in the 

coordinated litigation for the 2017 Northern California wildfires. On July 19, 2019, the Debtors filed an objection to the 

motions of the TCC and the Ad Hoc Subrogation Group, requesting that the motions be denied. Also on July 19, 2019, the 

UCC and the Shareholder Group filed objections to the motions of the TCC and the Ad Hoc Subrogation Group with the 

Bankruptcy Court, requesting that the motions be denied. The Shareholder Group also joined in the Debtors’ objection to the 

motions of the TCC and the Ad Hoc Subrogation Group. On August 16, 2019, the Bankruptcy Court issued a decision in which 

it granted the motions to lift the stay on the 2017 Tubbs fire to allow a state court jury trial for certain preference plaintiffs. 

Separate orders granting the relief with respect to the motions of the TCC and the Ad Hoc Subrogation Group were entered by 

the Bankruptcy Court on August 21, 2019. 

On September 12, 2019, the San Francisco Superior Court issued a tentative ruling, granting motions for the Tubbs fire trial to 

proceed with respect to all designated individual plaintiffs on a preferential fast-track basis and denying the Debtors’ motion to 

transfer the trial from San Francisco to Sonoma County. At a hearing on September 16, 2019, the San Francisco Superior Court 

reaffirmed the tentative ruling issued on September 12, 2019 and set trial to begin on January 7, 2020. The judge directed the 

parties to confer and submit proposals for discovery, deadlines, case management and trial procedure by September 26, 2019 

and scheduled a status conference for October 1, 2019.

Motion for the Establishment of Wildfire Claims Estimation Procedures

On July 18, 2019, the Debtors submitted a motion, pursuant to sections 105(a) and 502(c) of the Bankruptcy Code, for entry of 

an order establishing procedures and schedules for the estimation of the Debtors’ aggregate liability for contingent and/or 

unliquidated claims arising out of the 2015 Butte fire, the 2017 Northern California wildfires and the 2018 Camp fire (which 

are collectively referred to as the “wildfire claims”). In the motion, the Debtors proposed, among other things, the following 

general parameters of the estimation process: 

• First, the Bankruptcy Court would address the legal issue of whether, pursuant to the state law doctrine of inverse 

condemnation, the Debtors may be held strictly liable for wildfire claims asserting property damages even where the 

Debtors were not negligent. 

• Second, the Bankruptcy Court would schedule a hearing on the limited issue of causation of the Tubbs fire on October 

7, 2019, or as soon as possible thereafter.

• Third, following the Bar Date (defined below), the Bankruptcy Court would determine the aggregate value of the 

wildfire claims in a hearing proposed to be scheduled for early December 2019. This phase of the estimation process 

would involve the resolution of questions around the likelihood of success of the wildfire claims on issues such as 

negligence, the recoverability of certain categories of damages and the aggregate estimate of overall damages based 

upon sampling of claims and expert testimony. In the motion, the Debtors indicated that they are prepared to agree 

that, as part of the proposed estimation process, they will not contest causation with respect to any wildfire for which 

Cal Fire has concluded that the Debtors are responsible, including the 2018 Camp fire and the 2017 Northern 

California wildfires identified above, except the Tubbs fire.

10

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 10

of 18
On August 7, 2019, certain third parties filed joinders and statements in support with the Bankruptcy Court with respect to the 

Debtors’ motion, including the Ad Hoc Noteholder Committee, the UCC and the Shareholder Group. Also on August 7, 2019, 

certain third parties filed objections to the Debtors’ motion with the Bankruptcy Court, including the City and County of San 

Francisco, the Ad Hoc Subrogation Group and the TCC. The objection of the City and County of San Francisco was limited to 

the Debtors’ proposal for the Bankruptcy Court to address the legal issue of whether, under the doctrine of inverse 

condemnation, the Debtors may be held strictly liable for wildfire claims asserting property damages even where it was not 

negligent. On August 21, 2019, the Bankruptcy Court issued recommendations to the U.S. District Court for the Northern 

District of California (the “District Court”) recommending the District Court order the partial withdrawal of the reference of the 

section 502(c) estimation of unliquidated claims arising from the 2017 and 2018 Northern California wildfires. On August 23, 

2019, the District Court issued an order adopting the recommendation of the Bankruptcy Court and ordering that the reference 

to the Bankruptcy Court be withdrawn in part and that certain specific matters would be decided by the U.S. District Court.

An initial scheduling conference was held before the District Court on September 10, 2019 and the parties are next scheduled to 

appear before the District Court on October 7, 2019, to discuss proposed schedules and related matters.

Bar Date

On July 1, 2019, the Bankruptcy Court entered an order approving a deadline of October 21, 2019, at 5:00 p.m. (Pacific Time) 

(the “Bar Date”) for filing claims against PG&E Corporation and the Utility relating to the period prior to the Petition Date. 

The Bar Date is subject to certain exceptions, including for claims arising under section 503(b)(9) of the Bankruptcy Code, the 

bar date for which occurred on April 22, 2019. The Bankruptcy Court also approved the Debtors’ plan to provide notice of the 

Bar Date to parties-in-interest, including potential wildfire-related claimants and other potential creditors.

Plan of Reorganization, Agreement with Holders of Insurance Subrogation Claims and Equity Backstop Commitments

On September 9, 2019, the Debtors filed with the Bankruptcy Court their Joint Chapter 11 Plan of Reorganization [Docket No. 

3841] for the resolution of the outstanding prepetition claims against and interests in the Debtors. Also on September 9, 2019, 

the Debtors entered into certain Chapter 11 Plan Backstop Commitment Letters with certain investors (the “Backstop Parties”) 

pursuant to which the investors agreed to fund up to $1.5 billion of proceeds to finance the Debtors’ chapter 11 plan through the 

purchase of PG&E Corporation common stock, subject to the terms and conditions set forth in such letters.

On September 22, 2019, the Debtors entered into a Restructuring Support Agreement (the “RSA”) with certain holders of 

insurance subrogation claims providing for an aggregate of $11 billion to be paid by the Debtors pursuant to the Proposed Plan 

(as defined below) in order to settle all insurance subrogation claims relating to the 2017 Northern California wildfires and the 

2018 Camp fire (the “Subrogation Claims”), upon the terms and conditions set forth in the RSA. Under the RSA, the Debtors 

have also agreed to reimburse the holders of Subrogation Claims for professional fees of up to $55 million, upon the terms and 

conditions set forth in the RSA. The $11 billion settlement set forth in the RSA is not reflected in the unaudited balance sheets 

as of August 31, 2019 included in this Monthly Operating Report.

On September 23, 2019, in accordance with the RSA, the Debtors filed their First Amended Joint Chapter 11 Plan of 

Reorganization [Docket No. 3966] (as may be further amended, modified or supplemented from time to time, the “Proposed 

Plan”) to incorporate the terms of the settlement contemplated under the RSA. The Proposed Plan may be amended, modified, 

or supplemented as necessary or required by the Bankruptcy Court.

Also on September 23, 2019, the Debtors announced that they have received aggregate equity commitments in excess of its $14 

billion target amount from a broad array of investors, including current shareholders, bondholders and parties not currently 

invested in their equity or debt securities.

On September 24, 2019, the Debtors filed a motion with the Bankruptcy Court seeking authority to enter into, and perform 

under, the RSA and approving the terms of the settlement contemplated under the RSA. Pursuant to that motion, the Debtors 

are requesting that the allowance of the subrogation claims in the aggregate amount of $11 billion be effective upon the 

approval of the motion but the treatment and satisfaction of the subrogation claims shall be effectuated pursuant to the Proposed 

Plan upon confirmation and consummation in accordance with the provisions of the Bankruptcy Court. The hearing on the 

Debtors’ motion to approve the RSA is scheduled for October 23, 2019, with an objection deadline of October 16, 2019. 

For additional information regarding the Chapter 11 Cases, refer to the website maintained by Prime Clerk, LLC, the 

Company’s claims and noticing agent, at http://restructuring.primeclerk.com/pge. The Debtors also routinely post or provide 

links to certain documents and information related to the Chapter 11 Cases at http://investor.pgecorp.com, under the “Chapter 

11” tab.

11

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 11

of 18
3. INVENTORY

Inventories are carried at weighted-average cost and include natural gas stored underground as well as materials and supplies. 

Natural gas stored underground is recorded to inventory when injected and then expensed as the gas is withdrawn for 

distribution to customers or to be used as fuel for electric generation. Materials and supplies are recorded to inventory when 

purchased and expensed or capitalized to plant, as appropriate, when consumed or installed.

4. ACCOUNTS RECEIVABLE

The following reflects the balance of the Utility’s Accounts receivable – Customers as of August 31, 2019:

(in millions) Accounts Receivable 

– Customers (Pre 

Receivables Aging and Post-Petition)

0 -30 Days $ 962

31-60 Days 149

61-90 Days 50

91+ Days 159

Unmailed invoices 143

Total accounts receivable – Customers 1,463

Other(1)14

Allowance for doubtful accounts (44)

Accounts receivable – Customers (net) $ 1,433

(1)

Represents Department of Water Resources bond charge, credit balance reclassification, and unidentified receipts.

5. ACCOUNTS PAYABLE

To the best of the Debtors’ knowledge, all undisputed, validated post-petition accounts payable have been and are being paid 

under agreed-upon payment terms.

In the ordinary course, in most instances the Debtors’ process for validating items for payment to suppliers requires the 

matching of a vendor invoice with a purchase order and, additionally, with a goods receipt (reflecting the Debtors’ 

acknowledgment of the delivery of goods or completion of services). That matching process extends the timeline for a vendor 

invoice to be cleared for payment until such time as the validation operation is fully complete. The Debtors are actively 

engaged on an ongoing basis with its supplier base to minimize the invoice matching and validation time frame. To the best of 

the Debtors’ knowledge, in all instances where the invoice matching process has been satisfactorily completed for post-petition 

vendor activity, the Debtors do not have any past due post-petition accounts payable as of August 31, 2019.

6. DEBTOR-IN-POSSESSION (“DIP”) FINANCING

The following table summarizes the Corporation’s and the Utility’s outstanding borrowings and availability under their DIP 

credit facilities at August 31, 2019:

(in millions)

Aggregate 

Limit

Term Loan 

Borrowings

Revolver 

Borrowings

Letters of 

Credit 

Outstanding

Aggregate 

Availability

PG&E Corporation $ — $ — $ — $ — $ —

Utility 5,500 (1)1,500 — 590 3,410

Total DIP credit facilities $ 5,500 $ 1,500 $ — $ 590 $ 3,410

(1)

Includes $1.5 billion of letter of credit subfacility.

12

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 12

of 18
7. PROPERTY, PLANT, AND EQUIPMENT

Property, plant, and equipment are reported at the lower of their historical cost less accumulated depreciation or fair value. 

Historical costs include labor and materials, construction overhead, and allowance for funds used during construction. PG&E 

Corporation Consolidates balances of its property, plant, and equipment were as follows at August 31, 2019:

(in millions)

PG&E Corporation 

Consolidated

Electric (1)$ 61,442

Gas 22,691

Construction work in progress 2,608

Other Plant in Service 20

Total property, plant, and equipment 86,761

Accumulated depreciation (25,750)

Net property, plant, and equipment $ 61,011

(1)

Balance includes nuclear fuel inventories. Stored nuclear fuel inventory is stated at weighted-average cost. Nuclear fuel in the reactor is expensed as it is 

used based on the amount of energy output. 

8. PAYMENT OF TAXES

To the best of the Debtors’ knowledge, the Corporation and the Utility are current on all taxes payable.

9. LIABILITIES SUBJECT TO COMPROMISE

The following reflects the balance of liabilities subject to compromise (“LSTC”) as of August 31, 2019:

(in millions)

Pacific Gas & 

Electric Company PG&E Corporation

PG&E Corporation 

Consolidated

Financing Debt (1)$ 21,813 $ 650 $ 22,463

Wildfire-related Claims(2)18,012 — 18,012

Trade creditors 1,262 4 1,266

Non-qualified benefit plan 18 126 144

2001 bankruptcy disputed claims 221 — 221

Customer deposits & advances 282 — 282

Reserve and Others 165 3 168

Total Liabilities Subject to Compromise $ 41,773 $ 783 $ 42,556

(1)

At August 31, 2019, the Debtors had $650 million and $21,526 million in aggregate principal amount of pre-petition indebtedness, respectively. Utility prepetition financing debt also includes 285 million of accrued contractual interest to the Petition Date. 

(2)

 The $11 billion settlement set forth in the RSA is not reflected in the unaudited balance sheets as of August 31, 2019 included in this Monthly Operating 

Report. For more information regarding Chapter 11 Cases, see Note 2 above.

 10. RECAPITULATION OF FUNDS HELD AT END OF MONTH

The following reflects the bank balances of the Corporation and the Utility as of August 31, 2019:

Legal Entity Bank Account No.

Balance, End of 

Month (in ones)

PG&E Corporation The Bank of New York Mellon 8400 $ 429,800,000

PG&E Corporation The Bank of New York Mellon 9023 317,753

PG&E Corporation Bank of America 7107 77,899

PG&E Corporation The Bank of New York Mellon 4558 —

PG&E Corporation Union Bank of California 9557 737

PG&E Corporation Bank of America 0X30 —

PG&E Corporation Barclays Capital Inc. 1362 —

PG&E Corporation BNP Paribas 0652 —

13

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 13

of 18
PG&E Corporation Citigroup Global Markets 0473 —

PG&E Corporation Goldman, Sachs & Co 0609 —

PG&E Corporation JP Morgan Chase Bank, N.A. 0698 —

PG&E Corporation Merrill Lynch 0X30 —

PG&E Corporation Mitsubishi UFJ Securities USA, INC. 0189 —

PG&E Corporation Morgan Stanley / ISG Operations 4966 —

PG&E Corporation RBC Capital Markets 2226 —

PG&E Corporation Wells Fargo Securities, LLC 7221 —

PG&E Corporation Bank of America 7981 —

PG&E Corporation The Bank of New York Mellon 9946 —

Pacific Gas & Electric Company The Bank of New York Mellon 8400 2,074,500,000

Pacific Gas & Electric Company Union Bank of California 5581 270,887,294

Pacific Gas & Electric Company Citibank N. A. 2091 738,215

Pacific Gas & Electric Company Bank of America 3212 494,502

Pacific Gas & Electric Company The Bank of New York Mellon 9994 631,766

Pacific Gas & Electric Company The Bank of New York Mellon 7822 —

Pacific Gas & Electric Company The Bank of New York Mellon 5477 —

Pacific Gas & Electric Company Royal Bank of Canada 0446 309,884

Pacific Gas & Electric Company Bank of America 7115 —

Pacific Gas & Electric Company U.S. Bank 2311 565,553

Pacific Gas & Electric Company Bank of America 2988 46,724

Pacific Gas & Electric Company The Bank of New York Mellon 3044 —

Pacific Gas & Electric Company Bank of America 2302 660,319

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 4XL9 3,040

Pacific Gas & Electric Company The Bank of New York Mellon 4122 1,000

Pacific Gas & Electric Company The Bank of New York Mellon 3532 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 43.11 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 543.7 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.2 —

Pacific Gas & Electric Company Bank of America 0817 —

Pacific Gas & Electric Company Bank of America 1675 —

Pacific Gas & Electric Company Citibank N. A. 0901 —

Pacific Gas & Electric Company Citibank N. A. 1958 —

Pacific Gas & Electric Company Citibank N. A. 2316 —

Pacific Gas & Electric Company Citigroup Global Markets 6473 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.1 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.1 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 54.11 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 54.12 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 54.13 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 54.14 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 54.15 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 54.16 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.2 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.3 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.4 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.5 —

14

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 14

of 18
Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.6 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.7 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.8 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 854.9 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 43.10 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 43.12 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 543.6 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 543.8 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.1 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.10 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.11 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.12 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.13 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.14 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.15 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.16 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.17 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.18 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.19 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.20 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.21 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.22 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.23 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 50.24 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.3 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.4 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.5 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.6 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.7 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.8 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 550.9 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 387.1 —

Pacific Gas & Electric Company Deutsche Bank Trust Company Americas 7110 —

Pacific Gas & Electric Company The Bank of New York Mellon 8400 —

Pacific Gas & Electric Company The Bank of New York Mellon 8544 5,145

Pacific Gas & Electric Company The Bank of New York Mellon 9990 4,930,847

Pacific Gas & Electric Company The Bank of New York Mellon 4017 —

Pacific Gas & Electric Company The Bank of New York Mellon 0143 —

Pacific Gas & Electric Company Wells Fargo Bank N.A. 9578 —

Pacific Gas & Electric Company The Bank of New York Mellon 9978 —

Pacific Gas & Electric Company U.S. Bank 5000 997,794

Pacific Gas & Electric Company Bank of America 2520 —

Total Funds on Hand for all Accounts(1)(2)$ 2,784,968,472

(1)

Schedule does not include Wells Fargo accounts 5300 and 5400; these accounts are held by grantor trusts relating to post-service benefits to directors, 

officers, and other highly paid employees, which have a combined value of 177,420,788. The grantor trusts are considered assets of the Corporation subject 

to creditor claims.

(2)

 Bank account RBS 066002141 is no longer listed above, the account had been closed for a significant period of time prior to the Petition Date.

(3)

Balances will not tie to the Balance Sheets as they are per bank and due to the exclusion of non-debtor bank accounts.

15

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 15

of 18
11. CASH RECEIPTS AND DISBURSEMENTS

The following reflects the cash receipts and disbursements of the Corporation and the Utility for the month ended August 31, 

2019:

(in ones)

Pacific Gas & 

Electric Company

PG&E 

Corporation

PG&E 

Corporation 

Consolidated

Beginning Cash(1)(2)$ 2,643,929,188 $ 441,094,709 $ 3,085,023,897

Total receipts(3)2,078,176,501 6,105,675 2,084,282,176

Total disbursements(3)(2,367,333,606) (17,003,995) (2,384,337,601)

DIP borrowing and repayments, net (net of fees) — — —

Total Change in Cash (289,157,105) (10,898,320) (300,055,425)

Ending Cash(1)(2)$ 2,354,772,083 $ 430,196,389 $ 2,784,968,472

(1)

Calculated using balance per bank.

(2)

Balances will not tie to the Balance Sheets as they are per bank and due to the exclusion of non-debtor bank accounts. 

(3)

Includes intercompany receipts and disbursements between the Corporation and the Utility. 

12. PAYMENTS ON PRE-PETITION DEBT

The following reflects the payments for the month ended August 31, 2019 made in accordance with the authority granted by the 

Bankruptcy Court pursuant to the First Day Motions.

(in millions)

First Day Motions Disbursed in Month

Operational Integrity Supplier $ 1

Cash Management —

NGX - CAISO —

Public Purpose Programs 6

Shippers / Liens 21

Tax 3

Employee Wage and Benefits 1

Insurance 1

503(b)(9)(1) —

Total $ 33

(1)

Pursuant to the Operational Integrity Motion Debtors are allowed to pay valid 503(b)(9) claims.

16

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 16

of 18
13. PAYMENTS FOR RETAINED PROFESSIONALS

The following reflects payments made to retained bankruptcy professionals during the month ended August 31, 2019.

(in ones)

Name Payment Date Total Payments for the Month

AP Services, LLP 8/1/19 $ 4,968,182

Weil, Gotshal & Manges LLP 8/6/19 & 8/17/19 5,013,068

Baker & Hostettler LLP 8/8/19 & 8/27/19 3,758,362

FTI Consulting, Inc. 8/8/19 & 8/17/19 3,998,591

PricewaterhouseCoopers LLP 8/13/19 7,181,546

Simpson Thacher & Bartlett LLP 8/16/19 1,561,885

Milbank LLP 8/16/19 2,959,799

Cravath, Swaine & Moore LLP 8/21/19 6,558,452

Centerview Partners LLC 8/23/19 719,286

KPMG 8/24/19 & 8/31/19 2,160,317

Lincoln Partners Advisors LLC 8/27/19 784,036

Total $ 39,663,524

17

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 17

of 18
14. PAYMENTS TO INSIDERS

The following reflects the cash payments made to insiders of the Corporation and the Utility during the month ended August 

31, 2019. Other than reimbursement for reasonable expenses incurred in connection with attending Board of Directors 

meetings, Board of Directors committee meetings, or participating in other activities undertaken on behalf of the Corporation 

and the Utility, there were no payments made to non-employee directors during the reporting period.

Section 16 officers of the Corporation and/or the Utility.

(in ones) Total Payments 

for Month(2) Name Title (1)

Melvin J. Christopher Vice President, Gas Operations $ 86,781 (3)

Loraine M. Giammona Senior Vice President and Chief Customer Officer 42,083

William D. Johnson Chief Executive Officer and President, PG&E Corporation 294,976 (4)

Julie M. Kane

Senior Vice President, Chief Ethics and Compliance Officer, and Deputy 

General Counsel, PG&E Corporation and Pacific Gas and Electric Company 39,433

Kathleen B. Kay Senior Vice President and Chief Information Officer 34,666

Michael A. Lewis Senior Vice President, Electric Operations 37,500

Janet C. Loduca

Senior Vice President and General Counsel, PG&E Corporation and Pacific 

Gas and Electric Company 47,917

Dinyar B. Mistry

Senior Vice President, Human Resources and Shared Services, PG&E 

Corporation and Pacific Gas and Electric Company 47,083

John R. Simon Executive Vice President, PG&E Corporation 57,917

David S. Thomason

Vice President, Chief Financial Officer, and Controller, Pacific Gas and 

Electric Company

Vice President and Controller, PG&E Corporation 27,083

Andrew M. Vesey Chief Executive Officer and President 57,379 (5)

Fong Wan Senior Vice President, Energy Policy and Procurement 34,483

Jason P. Wells Executive Vice President and Chief Financial Officer, PG&E Corporation 52,500

James M. Welsch Senior Vice President and Chief Nuclear Officer 73,106

(1)

Except as otherwise noted, all positions have been held at the Utility.

(2)

Payments primarily consist of salary.

(3)

 Includes prorated 2nd quarter STIP payment of $61,215 and $27,689 to Mr. Christopher and Mr. Welsch, respectively, earned prior to becoming a Section 16 

officer.

(4)

 Includes relocation pay of $86,642 paid in August 2019.

(5)

 On August 9, 2019, Mr. Vesey was appointed as the new Chief Executive Officer and President of the Utility, effective on August 19, 2019. Payment 

includes $12,500 of annual perquisite allowance and $7,000 of relocation pay paid in August 2019.

15. REORGANIZATION ITEMS

The following reflects reorganization items, net, post-petition through August 31, 2019:

(in millions)

Pacific Gas & 

Electric Company PG&E Corporation

PG&E Corporation 

Consolidated

Debtor-in-possession financing costs $ 97 $ 17 $ 114

Legal and other 162 5 167

Interest income (37) (7) (44)

Adjustments to LSTC — — —

Trustee fees (1)1 1 2

Total reorganization items, net $ 223 $ 16 $ 239

(1)

 At August 31, 2019, the Corporation and the Utility accrued 583,655 and 833,310, respectively, in fees to the U.S. Trustee.

18

Case: 19-30088 Doc# 4036 Filed: 09/30/19 Entered: 09/30/19 13:32:09 Page 18

of 18