PG&E wildfire liabilities rise $325M; new SB 254 fund adds up to $18B backstop for post-2025 fires

Filed July 23, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 31, 2025 · ~2 min read

Key Changes

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  Dixie fire liability increased $175M to $2.25B and Mosquito fire liability increased $150M to $400M, reflecting ongoing settlement activity. Wildfire Fund receivables rose $175M for Dixie fire, with $1.01B collected to date.

  Legal Proceedings: Dixie & Mosquito fire liabilities verify on EDGAR →
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  California enacted SB 254 in September 2025, creating a Continuation Account with up to $18B in additional wildfire liability coverage for fires after September 19, 2025. Original AB 1054 fund covers fires through that date only.

  Legal Proceedings & MD&A: SB 254 Continuation Account verify on EDGAR →
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  Company filed cost recovery application in November 2025 for Kincade and Dixie fires. Outcome will determine whether costs are recoverable from ratepayers or shareholders, and whether company must reimburse Wildfire Fund for disallowed costs.

  Legal Proceedings: Dixie fire cost recovery verify on EDGAR →