WILDFIRE-RELATED CONTINGENCIES (Tables)

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Summary of Wildfire-Related Claims

The following table presents the cumulative amounts PG&E Corporation and the Utility have paid through September 30, 2024.

Payments (in millions)
2019 Kincade Fire	$	938
2021 Dixie Fire	1,232
2022 Mosquito Fire	15
Total at September 30, 2024	$	2,185

The following table presents changes in the lower end of the range of PG&E Corporation’s and the Utility’s reasonably estimable losses, net of payments, for claims arising from the 2019 Kincade fire since December 31, 2023.

Loss Accrual (in millions)
Balance at December 31, 2023	$	458
Accrued Losses	75
Payments	(271)
Balance at September 30, 2024	$	262

The following table presents changes in the lower end of the range of PG&E Corporation’s and the Utility’s reasonably estimable losses, net of payments, for claims arising from the 2021 Dixie fire since December 31, 2023.

Loss Accrual (in millions)
Balance at December 31, 2023	$	870
Accrued Losses	275
Payments	(501)
Balance at September 30, 2024	$	644

Loss Accrual (in millions)
Balance at December 31, 2023	$	85
Accrued Losses	—
Payments	—
Balance at September 30, 2024	$	85

Total probable recoveries for the 2021 Dixie fire and the 2022 Mosquito fire as of September 30, 2024 are:

Potential Recovery Source (in millions)	2021 Dixie fire		2022 Mosquito fire
Insurance	$	525	$	86
FERC TO rates	94		7
WEMA	504		53
Wildfire Fund	875		—
Probable recoveries at September 30, 2024 (1)	$	1,998	$	146

(1) Includes legal costs of $115 million and $46 million related to the 2021 Dixie fire and 2022 Mosquito fire, respectively, as of September 30, 2024.

The following table presents changes in accrued insurance recoveries, net of reimbursements received, for the 2021 Dixie fire and 2022 Mosquito fire since December 31, 2023:

Insurance Receivable (in millions)	2021 Dixie fire		2022 Mosquito fire		Total
Balance at December 31, 2023	$	326	$	63	$	389
Accrued insurance recoveries	(1)		23		22
Reimbursements	(296)		—		(296)
Balance at September 30, 2024	$	29	$	86	$	115

The following table presents changes in accrued Wildfire Fund recoveries, net of claims paid by the Wildfire Fund received, for the 2021 Dixie fire since December 31, 2023:

Wildfire Fund Receivable (in millions)	2021 Dixie fire
Balance at December 31, 2023	$	600
Accrued Wildfire Fund recoveries	275
Claims paid by Wildfire Fund	(39)
Balance at September 30, 2024	$	836