ORGANIZATION AND BASIS OF PRESENTATION PG&amp;E Corporation is a holding company whose primary operating subsidiary is Pacific Gas and Electric Company, a public utility serving northern and central California. The Utility generates revenues mainly through the sale and delivery of electricity and natural gas to customers. The Utility is primarily regulated by the CPUC and the FERC. In addition, the NRC oversees the licensing, construction, operation, and decommissioning of the Utilitys nuclear generation facilities. This quarterly report on Form 10-Q is a combined report of PG&amp;E Corporation and the Utility. PG&amp;E Corporations Condensed Consolidated Financial Statements include the accounts of PG&amp;E Corporation, the Utility, and other wholly owned and controlled subsidiaries. The Utilitys Condensed Consolidated Financial Statements include the accounts of the Utility and its wholly owned and controlled subsidiaries. All intercompany transactions have been eliminated in consolidation. The Notes to the Condensed Consolidated Financial Statements apply to both PG&amp;E Corporation and the Utility. PG&amp;E Corporation and the Utility assess financial performance and allocate resources on a consolidated basis (i.e., the companies operate in one segment). The accompanying Condensed Consolidated Financial Statements have been prepared in conformity with GAAP and in accordance with the interim period reporting requirements of Form 10-Q and reflect all adjustments (consisting only of normal recurring adjustments) that management believes are necessary for the fair presentation of PG&amp;E Corporations and the Utilitys financial condition, results of operations, and cash flows for the periods presented. The information at December 31, 2018 in the Condensed Consolidated Balance Sheets included in this quarterly report was derived from the audited Consolidated Balance Sheets in Item 8 of the 2018 Form 10-K. This quarterly report should be read in conjunction with the 2018 Form 10-K. The preparation of financial statements in conformity with GAAP requires the use of estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Some of the more significant estimates and assumptions relate to the Utilitys regulatory assets and liabilities, legal and regulatory contingencies, insurance recoveries, environmental remediation liabilities, AROs, pension and other post-retirement benefit plans obligations, and the valuation of pre-petition liabilities. Management believes that its estimates and assumptions reflected in the Condensed Consolidated Financial Statements are appropriate and reasonable. A change in managements estimates or assumptions could result in an adjustment that would have a material impact on PG&amp;E Corporations and the Utilitys financial condition and results of operations during the period in which such change occurred. Chapter 11 Filing and Going Concern The accompanying Condensed Consolidated Financial Statements have been prepared on a going concern basis, which contemplates the continuity of operations, the realization of assets and the satisfaction of liabilities in the normal course of business. However, as a result of the challenges that are further described below, such realization of assets and satisfaction of liabilities are subject to uncertainty. PG&amp;E Corporation and the Utility are facing extraordinary challenges relating to a series of catastrophic wildfires that occurred in Northern California in 2017 and 2018. See Note 10 below. Uncertainty regarding these matters raises substantial doubt about PG&amp;E Corporations and the Utilitys abilities to continue as going concerns. PG&amp;E Corporation and the Utility determined that commencing reorganization cases under Chapter 11 is necessary to restore PG&amp;E Corporations and the Utilitys financial stability to fund ongoing operations and provide safe service to customers. However, there can be no assurance that such proceedings will restore PG&amp;E Corporations and the Utilitys financial stability. On the Petition Date, PG&amp;E Corporation and the Utility filed voluntary petitions for relief under Chapter 11 in the Bankruptcy Court. The Condensed Consolidated Financial Statements do not include any adjustments that might be necessary should PG&amp;E Corporation and the Utility be unable to continue as going concerns. Pursuant to Chapter 11, PG&amp;E Corporation and the Utility retain control of their assets and are authorized to operate their business as debtors-in-possession while being subject to the jurisdiction of the Bankruptcy Court. While operating as debtors-in-possession under Chapter 11, PG&amp;E Corporation and the Utility may sell or otherwise dispose of or liquidate assets or settle liabilities, subject to the approval of the Bankruptcy Court or as otherwise permitted in the ordinary course of business and subject to restrictions in PG&amp;E Corporations and the Utilitys DIP Credit Agreement (see Note 5 below) and applicable orders of the Bankruptcy Court, for amounts other than those reflected in the accompanying Condensed Consolidated Financial Statements. Any such actions occurring during the Chapter 11 Cases confirmed by the Bankruptcy Court could materially impact the amounts and classifications of assets and liabilities reported in PG&amp;E Corporations and the Utilitys Condensed Consolidated Financial Statements. (For more information regarding the Chapter 11 Cases, see Note 2 below.)