PG&E Us - PCG STOCK NEWS

PG&E is expanding its capacity to serve approximately 5.5 gigawatts (GW) of new data center energy demand over the next decade, with 1.4 GW projected to come online between 2026 and 2030 from 15 customers across 27 sites. The company's initial cluster study in 2024 evaluated 740 megawatts of new data center load in Silicon Valley and the greater San Francisco Bay Area.

For every 1 GW of new data center demand, PG&E estimates customers could save 1-2% on monthly bills long-term. The company has proposed a new 'Rule 30' tariff to the California Public Utilities Commission, establishing a streamlined process for connecting large demand customers. This tariff allows customers to fund projects upfront and receive reimbursement after coming online, protecting existing customers while enabling infrastructure growth.

PG&E (NYSE: PCG) reported strong financial performance for 2024, with GAAP earnings of $1.15 per share, up from $1.05 in 2023. Non-GAAP core earnings reached $1.36 per share, compared to $1.23 in 2023. The company achieved significant operational milestones, including zero major wildfires for the second consecutive year and completed 366 miles of system hardening.

Operating cash flow increased substantially to $8.0 billion in 2024 from $4.7 billion in 2023. The company reduced non-fuel O&M costs by 4%, exceeding its 2% target and saving over $200 million. PG&E secured a $15 billion loan guarantee from the U.S. Department of Energy for grid modernization.

For 2025, PG&E reaffirmed GAAP earnings guidance of $1.30-$1.36 per share and increased non-GAAP core EPS guidance to $1.48-$1.52 per share. The company aims for a dividend payout ratio of approximately 20% of core earnings by 2028.

PG&E warns customers about the dangers of metallic balloons during Valentine's Day, as they pose significant risks to power infrastructure. In 2024, metallic balloons caused 369 power outages across PG&E's service area in Northern and Central California, affecting over 230,000 homes and businesses.

The company emphasizes that metallic balloons can remain inflated for two to three weeks, creating prolonged hazards to power lines. To prevent outages and ensure safety, PG&E reminds customers that California law requires metallic balloons to be securely tied to weights and never released outdoors.

Key safety recommendations include using caution near overhead lines, securing balloons with appropriate weights, proper disposal by puncturing or cutting, and immediately reporting any balloon-related power line incidents to PG&E.

PG&E is preparing for significant winter storms expected to impact Northern and Central California this week. The company has strategically positioned crews and resources to ensure rapid response to potential power outages. The forecast indicates wind speeds of 40-55+ mph along the North Coast, Bay Area elevations, and North Valley, with some areas expecting 50-60 mph winds and several inches of rain.

The company employs an AI-powered Storm Outage Prediction Model to anticipate severe storm impacts and pre-stage necessary equipment. Two storm waves are expected: the first through Tuesday, and after a brief pause Wednesday, a second storm Thursday through Friday. PG&E has implemented real-time outage updates and multiple customer communication channels to keep residents informed during potential disruptions.

PG&E Foundation announces its annual Better Together STEM Scholarship Program, offering $350,000 in total funding for 60 scholarships. Awards range from $2,500 to $10,000 for students pursuing STEM disciplines. The program, which has awarded $7.45 million since 2012, expanded in 2023 to include 20 additional students and accepts applications from students attending HBCUs nationwide.

Eligible applicants must reside in PG&E's Northern and Central California service area and plan full-time undergraduate studies for 2025-2026. The application deadline is March 14, 2025. Additionally, PG&E's employee resource groups offer separate scholarships, having distributed over $6 million since 1989.

PG&E (NYSE: PCG) has announced its upcoming fourth quarter and full year 2024 earnings conference call, scheduled for Thursday, February 13, 2025, at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time). The call will be accessible to the public through a simultaneous webcast available on the company's investor relations website.

PG&E is an Oakland-based holding company and parent of Pacific Gas and Electric Company, serving 16 million Californians across a 70,000-square-mile service area in Northern and Central California. A replay of the conference call and webcast will be made available on the company's investor website.

PG&E (NYSE: PCG) has announced the appointment of Leo P. Denault to the Boards of Directors of PG&E and Pacific Gas and Electric Company, effective February 19, 2025. Denault, who served as Chairman and CEO of Entergy from 2013 to 2022, brings significant utility sector experience, having transformed Entergy into a premier utility with one of the nation's cleanest energy portfolios.

During his tenure at Entergy, Denault focused on system reliability, resilience, and financial stability while streamlining operations and controlling costs. He previously served as Entergy's Executive Vice President and CFO, and held leadership positions at Public Service Company of Indiana. Currently, Denault serves on the board of Huntington Ingalls Industries and is a Senior Advisor to ArcLight, focusing on power and utility infrastructure investments.

PG&E has announced the availability of more than $250,000 in college scholarships for students in Northern and Central California. The scholarships, funded by PG&E's 11 employee resource groups (ERGs) and two engineering network groups (ENGs), range from $1,000 to $6,000 per recipient. Applications are open until March 22, 2025.

The program, which has awarded over $6 million since 1989, aims to support college-bound high schoolers and current college students. The funds are raised through employee donations, fundraising events, and the company's employee giving program. More than 6,500 of PG&E's 28,000 employees participate in these groups, which include various cultural, professional, and identity-based networks.

PG&E is preparing for a major storm system expected to bring heavy rain and strong winds to Northern California through the weekend. The company has positioned crews and resources across its service area to ensure swift power restoration in case of outages. PG&E is utilizing storm outage prediction models with AI and machine learning to anticipate potential damage and optimize resource deployment.

The company has pre-staged essential equipment including power poles, powerlines, and transformers throughout its service area. PG&E has also implemented real-time customer update systems through their online outage center and is providing storm safety guidelines for residents, including proper generator usage, flashlight preparation, and emergency protocols for downed power lines.