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FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at fair value on a recurring basis for PG&E Corporation and the Utility are summarized below.  Assets held in rabbi trusts are held by PG&E Corporation and not the Utility.
 Fair Value Measurements
 
 At December 31, 2021
(in millions)Level 1Level 2Level 3
Netting (1)
Total
Assets:     
Short-term investments$289 $— $— $— $289 
Nuclear decommissioning trusts
Short-term investments22 — — — 22 
Global equity securities2,504 — — — 2,504 
Fixed-income securities1,158 866 — — 2,024 
Assets measured at NAV— — — — 31 
Total nuclear decommissioning trusts (2)
3,684 866 — — 4,581 
Price risk management instruments (Note 10)     
Electricity— 9 214 6 229 
Gas— 4 — 137 141 
Total price risk management instruments— 13 214 143 370 
Rabbi trusts     
Fixed-income securities— 104 — — 104 
Life insurance contracts— 76 — — 76 
Total rabbi trusts— 180 — — 180 
Long-term disability trust     
Short-term investments6 — — — 6 
Assets measured at NAV— — — — 132 
Total long-term disability trust6 — — — 138 
TOTAL ASSETS$3,979 $1,059 $214 $143 $5,558 
Liabilities:     
Price risk management instruments (Note 10)     
Electricity$— $11 $248 $(24)$235 
Gas— 10 — (3)7 
TOTAL LIABILITIES$— $21 $248 $(27)$242 
(1) Includes the effect of the contractual ability to settle contracts under master netting agreements and cash collateral.
(2) Represents amount before deducting $783 million, primarily related to deferred taxes on appreciation of investment value. 
 Fair Value Measurements
 
At December 31, 2020
(in millions)Level 1Level 2Level 3
Netting (1)
Total
Assets:     
Short-term investments$470 $— $— $— $470 
Nuclear decommissioning trusts
Short-term investments27 — — — 27 
Global equity securities2,398 — — — 2,398 
Fixed-income securities924 835 — — 1,759 
Assets measured at NAV— — — — 25 
Total nuclear decommissioning trusts (2)
3,349 835 — — 4,209 
Price risk management instruments (Note 10)    
Electricity— 2 166 2 170 
Gas— 1 — 113 114 
Total price risk management instruments— 3 166 115 284 
Rabbi trusts    
Fixed-income securities— 106 — — 106 
Life insurance contracts— 79 — — 79 
Total rabbi trusts— 185 — — 185 
Long-term disability trust    
Short-term investments9 — — — 9 
Assets measured at NAV— — — — 158 
Total long-term disability trust9 — — — 167 
TOTAL ASSETS$3,828 $1,023 $166 $115 $5,315 
Liabilities:    
Price risk management instruments (Note 10)    
Electricity— 1 238 (25)214 
Gas— 3 — — 3 
TOTAL LIABILITIES$— $4 $238 $(25)$217 
(1) Includes the effect of the contractual ability to settle contracts under master netting agreements and cash collateral.
(2) Represents amount before deducting $671 million, primarily related to deferred taxes on appreciation of investment value.
Uncertainty Analysis
 Fair Value at   
(in millions)At December 31, 2021Valuation
Technique		Unobservable
Input		 
Fair Value MeasurementAssetsLiabilities
 Range (1)/Weighted-Average Price (2)
Congestion revenue rights$188 $93 Market approachCRR auction prices
$ (40.77) - 2,265.94 / 0.40
Power purchase agreements$26 $155 Discounted cash flowForward prices
$ (7.97) - 256.20 / 47.17
(1) Represents price per megawatt-hour.
(2) Unobservable inputs were weighted by the relative fair value of the instruments.
 Fair Value at   
(in millions)At December 31, 2020Valuation
Technique		Unobservable
Input		 
Fair Value MeasurementAssetsLiabilities
 Range (1)/Weighted-Average Price (2)
Congestion revenue rights$153 $74 Market approachCRR auction prices
$ (320.25) - 320.25 / 0.30
Power purchase agreements$13 $164 Discounted cash flowForward prices
$ 12.56 - 148.30 / 35.52
(1) Represents price per megawatt-hour.
(2) Unobservable inputs were weighted by the relative fair value of the instruments.
Level 3 Reconciliation
The following table presents the reconciliation for Level 3 price risk management instruments for the years ended December 31, 2021 and 2020, respectively:
 Price Risk Management Instruments
(in millions)20212020
Asset (liability) balance as of January 1$(72)$5 
Net realized and unrealized gains:
Included in regulatory assets and liabilities or balancing accounts (1)
38 (77)
Asset (liability) balance as of December 31$(34)$(72)
(1) The costs related to price risk management activities are fully passed through to customers in rates. Accordingly, unrealized gains and losses are deferred in regulatory liabilities and assets and net income is not impacted.
Carrying Amount and Fair Value of Financial Instruments The carrying amount and fair value of PG&E Corporation’s and the Utility’s long-term debt instruments were as follows (the table below excludes financial instruments with carrying values that approximate their fair values):
 At December 31,
 20212020
(in millions)Carrying AmountLevel 2 Fair Value
Carrying Amount
Level 2 Fair Value
Debt (Note 5)    
PG&E Corporation
$4,619 $4,796 $1,901 $2,175 
Utility31,816 35,803 29,664 32,632 
Schedule of Unrealized Gains (Losses) Related to Available-for-sale Investments
The following table provides a summary of equity securities and available-for-sale debt securities:
(in millions)Amortized
Cost		Total
Unrealized
Gains		Total
Unrealized
Losses		Total Fair
Value
As of December 31, 2021    
Nuclear decommissioning trusts    
Short-term investments$22 $— $— $22 
Global equity securities479 2,066 (10)2,535 
Fixed-income securities1,938 98 (12)2,024 
Total (1)
$2,439 $2,164 $(22)$4,581 
As of December 31, 2020    
Nuclear decommissioning trusts    
Short-term investments$27 $— $— $27 
Global equity securities543 1,881 (1)2,423 
Fixed-income securities1,610 152 (3)1,759 
Total (1)
$2,180 $2,033 $(4)$4,209 
(1) Represents amounts before deducting $783 million and $671 million at December 31, 2021 and 2020, respectively, primarily related to deferred taxes on appreciation of investment value.
Schedule of Long Term Debt Repayments The fair value of fixed-income securities by contractual maturity is as follows:
 As of
(in millions)December 31, 2021
Less than 1 year$97 
1–5 years495 
5–10 years480 
More than 10 years952 
Total maturities of fixed-income securities$2,024 
Schedule of Activity for Debt and Equity Securities The following table provides a summary of activity for the fixed-income and equity securities:
(in millions)202120202019
Proceeds from sales and maturities of nuclear decommissioning investments$1,678 $1,518 $956 
Gross realized gains on securities 286 159 69 
Gross realized losses on securities(19)(41)(14)