PG&E Corp

Regulatory Filings • Nov 2, 2021

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: November 2, 2021

(Date of earliest event reported)

| Commission File Number | Exact Name of Registrant
as specified in its charter | State or Other Jurisdiction of Incorporation or Organization | IRS Employer Identification Number |
| --- | --- | --- | --- |
| 001-12609 | PG&E CORPORATION | California | 94-3234914 |
| 001-02348 | PACIFIC GAS AND ELECTRIC COMPANY | California | 94-0742640 |

●	●
77 BEALE STREET	77 BEALE STREET
P.O. BOX 770000	P.O. BOX 770000
SAN FRANCISCO , California 94177	SAN FRANCISCO , California 94177
(Address of principal executive offices) (Zip Code)	(Address of principal executive offices) (Zip Code)
( 415 ) 973-1000	( 415 ) 973-7000
(Registrant ’ s telephone number, including area code)	(Registrant ’ s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, no par value	PCG	The New York Stock Exchange
Equity Units	PCGU	The New York Stock Exchange
First preferred stock, cumulative, par value $25 per share, 5% series A redeemable	PCG-PE	NYSE American LLC
First preferred stock, cumulative, par value $25 per share, 5% redeemable	PCG-PD	NYSE American LLC
First preferred stock, cumulative, par value $25 per share, 4.80% redeemable	PCG-PG	NYSE American LLC
First preferred stock, cumulative, par value $25 per share, 4.50% redeemable	PCG-PH	NYSE American LLC
First preferred stock, cumulative, par value $25 per share, 4.36% series A redeemable	PCG-PI	NYSE American LLC
First preferred stock, cumulative, par value $25 per share, 6% nonredeemable	PCG-PA	NYSE American LLC
First preferred stock, cumulative, par value $25 per share, 5.50% nonredeemable	PCG-PB	NYSE American LLC
First preferred stock, cumulative, par value $25 per share, 5% nonredeemable	PCG-PC	NYSE American LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 ( § 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ( § 240.12b-2 of this chapter).

Emerging growth company	PG&E Corporation	☐
Emerging growth company	Pacific Gas and Electric Company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

PG&E Corporation	☐
Pacific Gas and Electric Company	☐

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Item 8.01 Other Events

On November 2, 2021, the Safety and Enforcement Division (“SED”) of the California Public Utilities Commission (the “CPUC”) submitted an administrative consent order to the CPUC seeking approval of a settlement with Pacific Gas and Electric Company (the “Utility”), a subsidiary of PG&E Corporation. The settlement would resolve SED’s investigation into the 2019 Kincade fire and provide for the removal of approximately 70 transmission lines or portions of lines that are no longer in service and are deenergized but have not been removed as required by CPUC rules. The settlement would provide that (i) the Utility will pay $40 million to California’s General Fund; (ii) the Utility will remove permanently abandoned transmission lines over a ten-year period; and (iii) the Utility must incur $85 million of the costs of such work by December 31, 2024, and it may not seek recovery of such costs. SED agreed to refrain from instituting enforcement proceedings against the Utility for not having removed the lines previously. The settlement states it does not constitute an admission by the Utility of violations of general orders or statutory requirements.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.

/s/ JOHN R. SIMON
Name:	John R. Simon
Title:	Executive Vice President, General Counsel and Chief Ethics & Compliance
Officer

/s/ BRIAN M. WONG
Name:	Brian M. Wong
Title:	Vice President, General Counsel and Corporate Secretary

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