These excerpts taken from the PCG 8-K filed Oct 28, 2005.
Unanticipated changes in operating expenses or capital expenditures, which may affect the Utilitys ability to earn its authorized rate of return;
The level and volatility of wholesale electricity and natural gas prices and supplies, the Utilitys ability to manage and respond to the levels and volatility successfully and the extent to which the Utility is able to timely recover increased costs related to such volatility;
Weather, storms, earthquakes, fires, floods, other natural disasters, explosions, accidents, mechanical breakdowns and other events or hazards that affect demand, result in power outages, reduce generating output, or cause damage to the Utilitys assets or operations or those of third parties on which the Utility relies;
Unanticipated population growth or decline, changes in market demand and demographic patterns, and general economic and financial market conditions, including unanticipated changes in interest or inflation rates, and the extent to which the Utility is able to timely recover its costs in the face of such events;
The operation of the Utilitys Diablo Canyon nuclear power plant, or Diablo Canyon, which exposes the Utility to potentially significant environmental costs and capital expenditure outlays and, to the extent the Utility is unable to increase its spent fuel storage capacity by 2007 or find an alternative depository, the risk that the Utility may be required to close Diablo Canyon and purchase electricity from more expensive sources;
Actions of credit rating agencies;
Significant changes in the Utilitys relationship with its employees, the availability of qualified personnel and the potential adverse effects if labor disputes were to occur; and
Acts of terrorism.
This excerpt taken from the PCG 10-K filed Feb 18, 2005.