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PG&E Corp, et al. – ‘8-K’ for 3/4/21

On:  Thursday, 3/4/21, at 5:28pm ET   ·   For:  3/4/21   ·   Accession #:  950157-21-304   ·   File #s:  1-02348, 1-12609

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/04/21  PG&E Corp                         8-K:8       3/04/21   11:343K                                   Cravath Swaine & … 01/FA
          Pacific Gas & Electric Co

Current Report   —   Form 8-K   —   Sect. 13 / 15(d) – SEA’34
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‘8-K’   —   Current Report


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



FORM  i 8-K



CURRENT REPORT

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



Date of Report:  i March 4, 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
 i 001-12609
 
 i PG&E CORPORATION
 
 i California
 
 i 94-3234914
 i 001-02348
 
 i PACIFIC GAS AND ELECTRIC COMPANY
 
 i California
 
 i 94-0742640


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

 i 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 i 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 i 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)
 i 
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
 i Common stock, no par value
 i PCG
 i The New York Stock Exchange
 i Equity Units
 i PCGU
 i The New York Stock Exchange
 i First preferred stock, cumulative, par value $25 per share, 5% series A redeemable
 i PCG-PE
 i NYSE American LLC
 i First preferred stock, cumulative, par value $25 per share, 5% redeemable
 i PCG-PD
 i NYSE American LLC
 i First preferred stock, cumulative, par value $25 per share, 4.80% redeemable
 i PCG-PG
 i NYSE American LLC
 i First preferred stock, cumulative, par value $25 per share, 4.50% redeemable
 i PCG-PH
 i NYSE American LLC
 i First preferred stock, cumulative, par value $25 per share, 4.36% series A redeemable
 i PCG-PI
 i NYSE American LLC
 i First preferred stock, cumulative, par value $25 per share, 6% nonredeemable
 i PCG-PA
 i NYSE American LLC
 i First preferred stock, cumulative, par value $25 per share, 5.50% nonredeemable
 i PCG-PB
 i NYSE American LLC
 i First preferred stock, cumulative, par value $25 per share, 5% nonredeemable
 i PCG-PC
 i 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
 i 
Emerging growth company
Pacific Gas and Electric Company
 i 

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






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.


  PG&E CORPORATION
 
       
Date:  March 4, 2021
By:
/s/ JOHN R. SIMON  
    Name: John R. Simon
 
    Title: Executive Vice President, General Counsel and Chief Ethics & Compliance Officer
 
       


  PACIFIC GAS AND ELECTRIC COMPANY  
       
Date:  March 4, 2021
By:
/s/ BRIAN M. WONG  
    Name: Brian M. Wong
 
    Title: Vice President, General Counsel and Corporate Secretary
 
       


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
3/31/21
Filed on / For Period end:3/4/21
12/31/2010-K
 List all Filings 


3 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/30/21  PG&E Corp.                        424B5                  1:1M                                     Donnelley … Solutions/FA
 3/10/21  Pacific Gas & Electric Co         424B2                  1:1.2M                                   Donnelley … Solutions/FA
 3/08/21  Pacific Gas & Electric Co         424B5                  1:1.2M                                   Donnelley … Solutions/FA
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