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REGULATORY ASSETS, LIABILITIES, AND BALANCING ACCOUNTS (Tables)
 6 Months Ended
Jun. 30, 2024
Regulated Operations [Abstract]  
Long-Term Regulatory Assets
Noncurrent regulatory assets are comprised of the following:
 Balance at
(in millions)June 30, 2024December 31, 2023
Pension benefits
$330 $348 
Environmental compliance costs1,152 1,218 
Price risk management166 160 
Catastrophic event memorandum account
1,047 1,074 
Wildfire-related accounts
2,518 2,915 
Deferred income taxes3,952 3,543 
Financing costs189 196 
SB 901 securitization
5,230 5,249 
General rate case memorandum accounts
693 1,291 
Other953 1,195 
Total noncurrent regulatory assets$16,230 $17,189 
Long-Term Regulatory Liabilities
Noncurrent regulatory liabilities are comprised of the following:
 Balance at
(in millions)June 30, 2024December 31, 2023
Cost of removal obligations
$8,527 $8,191 
Public purpose programs
1,332 1,238 
Employee benefit plans
1,043 1,032 
Transmission tower wireless licenses
330 384 
SFGO sale
119 185 
SB 901 securitization
6,457 6,628 
Wildfire self-insurance
600 407 
Other1,492 1,379 
Total noncurrent regulatory liabilities
$19,900 $19,444 
Current Regulatory Balancing Accounts Receivable
Current regulatory balancing accounts receivable and payable are comprised of the following:
Balance at
(in millions)June 30, 2024December 31, 2023
Electric distribution
$1,759 $1,092 
Electric transmission
95 99 
Gas distribution and transmission
158 144 
Energy procurement
1,554 1,002 
Public purpose programs
270 137 
Wildfire-related accounts
508 729 
Insurance premium costs
37 227 
Residential uncollectibles balancing accounts
98 507 
Catastrophic event memorandum account
304 413 
General rate case memorandum accounts
1,114 1,097 
Other801 213 
Total regulatory balancing accounts receivable$6,698 $5,660 
Current Regulatory Balancing Accounts Payable
Balance at
(in millions)June 30, 2024December 31, 2023
Electric transmission
$130 $200 
Gas distribution and transmission
63 224 
Energy procurement
714 77 
Public purpose programs
498 299 
SFGO sale51 79 
Wildfire-related accounts
264 125 
Nuclear decommissioning adjustment mechanism
133 216 
Other298 449 
Total regulatory balancing accounts payable$2,151 $1,669