San Francisco, CA-Based Electric & Combined Services Co PG&E Corp 4Q 2017 Pretax Income Down 74% or Down By $630 Mil From the 4Q 2016 ....................................................................................... Total 4Q 2017 Operating Expenses Are Precisely Flat With 4Q 2016 ....................................................................................... Nearly All of the 4Q 2017 Pretax Income Decline of $630 Mil is Due to Total Operating Revenues Decline of $613 Mil ($427 Mil Decline in Natural Gas Revenues and $186 Mil Decline in Electric Revenues) ....................................................................................... I'm Surprised That There is No Disclosure in the 4Q 2017 Earnings Release on the Amount of PG&E's US Federal Income Tax Debt Which is Essentially Forgiven Due to the US Trump Tax Cuts Act's 40% Reduction in the US Federal Income Tax Rate From 35% Down to 21%: The Amount Should Probably Be in the $3-4 Bil Range ....................................................................................... The Key Issue is That, In All Fairness, That Money Should Go to the Utility Customers Currently Not Over Many Years in the Future, Just Like Businesses Are Getting the Same US Federal Income Tax Debt Forgiven Earnings Benefit in the Quarter When the Trump Tax Cuts Act Was Signed Which Was in the 4Q 2017