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REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS (Tables)
 3 Months Ended
Mar. 31, 2025
Regulated Operations [Abstract]  
Long-Term Regulatory Assets
Noncurrent regulatory assets are comprised of the following:
 Balance at
(in millions)March 31, 2025December 31, 2024
Pension benefits
$672 $673 
Environmental compliance costs1,069 1,172 
Price risk management156 167 
Catastrophic event memorandum account
717 742 
Wildfire-related accounts
1,602 1,697 
Deferred income taxes4,993 4,771 
Financing costs212 216 
SB 901 securitization
5,175 5,194 
General rate case memorandum accounts
85 95 
Other870 834 
Total noncurrent regulatory assets$15,551 $15,561 
Long-Term Regulatory Liabilities
Noncurrent regulatory liabilities are comprised of the following:
 Balance at
(in millions)March 31, 2025December 31, 2024
Cost of removal obligations
$9,126 $8,943 
Public purpose programs
1,166 1,112 
Employee benefit plans
1,092 1,088 
Transmission tower wireless licenses
294 306 
SFGO sale
59 79 
SB 901 securitization
6,203 6,295 
Wildfire self-insurance
805 804 
Other892 790 
Total noncurrent regulatory liabilities
$19,637 $19,417 
Current Regulatory Balancing Accounts Receivable
Current regulatory balancing accounts receivable and payable are comprised of the following:
Balance at
(in millions)March 31, 2025December 31, 2024
Electric distribution
$1,823 $1,591 
Electric transmission
131 117 
Gas distribution and transmission
149 387 
Energy procurement
961 1,066 
Public purpose programs
275 162 
Wildfire-related accounts
879 979 
Insurance premium costs
— 38 
Residential uncollectibles balancing accounts
72 260 
Catastrophic event memorandum account
401 500 
General rate case memorandum accounts
835 1,113 
Other326 1,014 
Total regulatory balancing accounts receivable$5,852 $7,227 
Current Regulatory Balancing Accounts Payable
Balance at
(in millions)March 31, 2025December 31, 2024
Electric transmission
$692 $883 
Gas distribution and transmission
273 72 
Energy procurement
358 329 
Public purpose programs
547 882 
SFGO sale21 93 
Wildfire-related accounts
225 337 
Nuclear decommissioning adjustment mechanism
21 23 
Other438 550 
Total regulatory balancing accounts payable$2,575 $3,169