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REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS (Tables)
 9 Months Ended
Sep. 30, 2025
Regulated Operations [Abstract]  
Long-Term Regulatory Assets
Noncurrent regulatory assets are comprised of the following:
 Balance at
(in millions)September 30, 2025December 31, 2024
Pension benefits
$693 $673 
Environmental compliance costs1,138 1,172 
Price risk management128 167 
Catastrophic event memorandum account
673 742 
Wildfire-related accounts
1,734 1,697 
Deferred income taxes5,737 4,771 
Financing costs205 216 
SB 901 securitization
5,117 5,194 
General rate case memorandum accounts
67 95 
Other791 834 
Total noncurrent regulatory assets$16,283 $15,561 
Long-Term Regulatory Liabilities
Noncurrent regulatory liabilities are comprised of the following:
 Balance at
(in millions)September 30, 2025December 31, 2024
Cost of removal obligations
$9,339 $8,943 
Public purpose programs
1,183 1,112 
Employee benefit plans
1,103 1,088 
Transmission tower wireless licenses
270 306 
SFGO sale
20 79 
SB 901 securitization
6,103 6,295 
Wildfire self-insurance
817 804 
Other1,226 790 
Total noncurrent regulatory liabilities
$20,061 $19,417 
Current Regulatory Balancing Accounts Receivable
Current regulatory balancing accounts receivable and payable are comprised of the following:
Balance at
(in millions)September 30, 2025December 31, 2024
Electric distribution
$959 $1,591 
Electric transmission
95 117 
Gas distribution and transmission
496 387 
Energy procurement
1,436 1,066 
Public purpose programs
181 162 
Wildfire-related accounts
301 979 
Insurance premium costs
— 38 
Residential uncollectibles balancing accounts
219 260 
Catastrophic event memorandum account
244 500 
General rate case memorandum accounts
278 1,113 
Other618 1,014 
Total regulatory balancing accounts receivable$4,827 $7,227 
Current Regulatory Balancing Accounts Payable
Balance at
(in millions)September 30, 2025December 31, 2024
Electric transmission
$244 $883 
Gas distribution and transmission
51 72 
Energy procurement
777 329 
Public purpose programs
493 882 
SFGO sale62 93 
Wildfire-related accounts
319 337 
Nuclear decommissioning adjustment mechanism
— 23 
Other615 550 
Total regulatory balancing accounts payable$2,561 $3,169