Current Report Filing (8-k)
March 04 2021 - 5:29PM
Edgar (US Regulatory)
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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: March 4, 2021
(Date of earliest event reported)
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):
Securities registered pursuant to Section 12(b) of the Act:
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).
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.
Item 8.01 Other Events.
On March 4, 2021, Pacific Gas and Electric Company (the “Utility”), a subsidiary of PG&E Corporation, notified the California Public Utilities
Commission of errors that the Utility self-identified in connection with electric asset inspections under its 2020 Wildfire Mitigation Plan (the “WMP”). The Utility determined that it did not perform enhanced inspections of approximately 24
hydroelectric substations in high fire threat districts designated Tier 3 under the 2020 WMP, or approximately 43 percent of substations in such tier. In addition, the Utility determined that it did not perform enhanced inspections of approximately
five distribution poles related to its hydroelectric generating plants in the Utility’s 2019 and 2020 WMPs. In all, the WMPs cover enhanced inspections of approximately 50,000 electric transmission structures, approximately 700,000 distribution
poles, and over 200 substations owned or operated by the Utility.
PG&E Corporation and the Utility are performing remedial inspections on an expedited basis and expect to have the remainder of the inspections completed
by March 31, 2021. Additionally, PG&E Corporation and the Utility are taking corrective measures to prevent similar errors going forward.
In connection with the errors reported in the notification, PG&E Corporation and the Utility could face penalties, enforcement action and other adverse
legal or regulatory consequences.
Cautionary Statement Concerning Forward-Looking Statements
This current report on Form 8-K contains forward-looking statements that are not historical facts, including statements about the impact of the Utility’s
notification to the California Public Utilities Commission and the expected timing of remedial inspections. These statements are based on current expectations and assumptions, which management believes are reasonable, and on information currently
available to management, but are necessarily subject to various risks and uncertainties. In addition to the risk that these assumptions prove to be inaccurate, factors that could cause actual results to differ materially from those contemplated by
the forward-looking statements include factors disclosed in PG&E Corporation’s and the Utility’s annual report on Form 10-K for the year ended December 31, 2020, and other reports filed with the SEC, which are available on PG&E Corporation’s
website at www.pgecorp.com and on the SEC website at www.sec.gov. PG&E Corporation and the Utility undertake no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise,
except to the extent required by law.
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.
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PG&E CORPORATION
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Date: March 4, 2021
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By:
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/s/ JOHN R. SIMON
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Name:
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John R. Simon
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Title:
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Executive Vice President, General Counsel and Chief Ethics & Compliance Officer
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PACIFIC GAS AND ELECTRIC COMPANY
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Date: March 4, 2021
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By:
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/s/ BRIAN M. WONG
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Name:
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Brian M. Wong
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Title:
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Vice President, General Counsel and Corporate Secretary
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