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Pacific Gas and Electric (PG&E) GRC Proceedings [1]

['Test Auth']

Date: 2024-07

Every four years Pacific Gas and Electric Company (PG&E) undergoes a General Rate Case (GRC) at the CPUC. A GRC is a proceeding in which the CPUC takes a broad, in-depth look at a utility’s revenues and expenses to arrive at just and reasonable rates.

2023 GRC (A.21-06-021)

PG&E filed its 2023-2026 GRC Application (A.21-06-021) on June 30, 2021, subsequently submitting modifications on March 10, 2022 and September 6, 2022. PG&E requested $15.4 billion for 2023 in its application, which is a 26% increase over PG&E’s 2022 authorized revenue requirement of $12.2 billion. The top drivers of PG&E’s proposed increases are inflation and significant investments in undergrounding electric lines to decrease wildfire risk.

On November 17, 2023, the Commission issued Decision 23-11-069 adopting a Test Year 2023 base revenue requirement of $13.5 billion for Track 1 of the proceeding. The adopted revenue requirement represents an 11% increase over PG&E’s 2022 authorized revenue requirement. The decision approves key initiatives to reduce wildfire ignition risk and improve reliability: the implementation of 1,230 miles of electric line undergrounding and 778 miles of covered conductor, as well as the spending of $1.3 billion on vegetation management. The decision also directs PG&E to upgrade its electric distribution system and invest over $2.5 billion from 2023 to 2026 to be ready to serve higher customer load and new connections to its system.

D.23-11-069 also adopts a settlement in Track 2 of the proceeding (for accounts and programs not included in Track 1) that results in a total revenue requirement increase of $221.233 million to be recovered over 2023 and 2024.

Please see the decision, application, and docket card for more information.

Previous PG&E GRC Decisions

Other Documents

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[1] Url: https://www.cpuc.ca.gov/industries-and-topics/electrical-energy/electric-rates/general-rate-case/pacific-gas-and-electric-grc-proceedings

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