SB 901 SECURITIZATION AND CUSTOMER CREDIT TRUST (Tables)

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Schedule of Financial Statement Impact of Securitization

The following tables illustrate the changes in the SB 901 securitization’s impact on the Utility’s regulatory assets and liabilities:

	SB 901 securitization regulatory asset
(in millions)	2025		2024
Balance at January 1	$	5,194	$	5,249
Amortization	(19)		(2)
Balance at March 31	$	5,175	$	5,247

	SB 901 securitization regulatory liability
(in millions)	2025		2024
Balance at January 1	$	(6,295)	$	(6,628)
Amortization	93		82
Additions(1)	(1)		(4)
Balance at March 31	$	(6,203)	$	(6,550)

(1) Includes $1 million and $4 million of returns on investments in the customer credit trust expected to be credited to customers for the three months ended March 31, 2025 and 2024, respectively.