Regulatory Assets, Liabilities, And Balancing Accounts (Tables)

12 Months Ended

Dec. 31, 2015

Regulatory Assets, Liabilities, And Balancing Accounts [Abstract]

	Balance at December 31,					Recovery
(in millions)	2015		2014			Period
Pension benefits (1)	$	2,414	$	2,347	Indefinitely (4)
Deferred income taxes (1)		3,054		2,390	47 years
Utility retained generation (2)		411		456	10 years
Environmental compliance costs (1)		748		717	32 years
Price risk management (1)		138		127	10 years
Electromechanical meters (3)		-		70	-
Unamortized loss, net of gain, on reacquired debt (1)		94		113	11 years
Other		170		102	Various
Total long-term regulatory assets	$	7,029	$	6,322

(1) Represents the cumulative differences between amounts recognized for ratemaking purposes and expense or accumulated other comprehensive income (loss) recognized in accordance with GAAP.

(2) In connection with the settlement agreement entered into among PG&E Corporation, the Utility, and the CPUC in 2003 to resolve the Utility’s proceeding under Chapter 11, the CPUC authorized the Utility to recover $1.2 billion of costs related to the Utility’s retained generation assets. The individual components of these regulatory assets are being amortized over the respective lives of the underlying generation facilities, consistent with the period over which the related revenues are recognized.

(3) Represents the expected future recovery of the net book value of electromechanical meters that were replaced with SmartMeter™ devices. As of December 31, 2015, the remaining balance of $70 million is included in current regulatory assets on the Consolidated Balance Sheets.

(4) Payments into the pension and other benefits plans are based on annual contribution requirements. As these annual requirements continue indefinitely into the future, the Utility expects to continuously recover pension benefits.

Long-Term Regulatory Liabilities

	Balance at December 31,
(in millions)	2015		2014
Cost of removal obligations (1)	$	4,605	$	4,211
Recoveries in excess of AROs (2)		631		754
Public purpose programs (3)		600		701
Other		485		624
Total long-term regulatory liabilities	$	6,321	$	6,290

(1) Represents the cumulative differences between asset removal costs recorded and amounts collected in rates for expected asset removal costs.

(2) Represents the cumulative differences between ARO expenses and amounts collected in rates. Decommissioning costs related to the Utility’s nuclear facilities are recovered through rates and are placed in nuclear decommissioning trusts. This regulatory liability also represents the deferral of realized and unrealized gains and losses on these nuclear decommissioning trust investments. (See Note 10 below.)

(3) Represents amounts received from customers designated for public purpose program costs expected to be incurred beyond the next 12 months, primarily related to energy efficiency programs.

Current Regulatory Balancing Accounts Receivable

	Receivable
	Balance at December 31,
(in millions)	2015		2014
Electric distribution	$	380	$	344
Utility generation		122		261
Gas distribution		493		566
Energy procurement		262		608
Public purpose programs		155		109
Other		348		378
Total regulatory balancing accounts receivable	$	1,760	$	2,266

Current Regulatory Balancing Accounts Payable

	Payable
	Balance at December 31,
(in millions)	2015		2014
Energy procurement	$	112	$	188
Public purpose programs		244		154
Other		359		748
Total regulatory balancing accounts payable	$	715	$	1,090