Welcome to our dedicated page for PG&E Corporation news (Ticker: PCG), a resource for investors and traders seeking the latest updates and insights on PG&E Corporation stock.
PG&E Corporation (NYSE: PCG) is a major utility holding company based in Oakland, California. Through its principal subsidiary, Pacific Gas and Electric Company, PG&E provides natural gas and electric service to approximately 16 million people across a 70,000 square mile territory in Northern and Central California.
Pacific Gas and Electric Company delivers electricity to 5.3 million customers and natural gas to 4.6 million customers. Its extensive infrastructure includes about 18,000 circuit miles of interconnected transmission lines, 107,000 circuit miles of distribution lines, and 43,300 miles of natural gas distribution pipelines. The company’s energy generation portfolio is diverse, encompassing nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.
In terms of recent achievements, PG&E has made significant strides in environmental initiatives. In 2024, it completed its Land Conservation Commitment, permanently protecting approximately 140,000 acres of watershed lands. PG&E has also launched several wildfire risk reduction projects and implemented its first 100% renewable remote electric grid at Pepperwood Preserve, demonstrating its commitment to sustainability and innovation.
Financially, PG&E has shown robust performance. For the first quarter of 2024, the company reported income available for common shareholders of $732 million or $0.34 per share. This increase is attributed to customer capital investments and non-fuel operating and maintenance savings. PG&E Corporation’s non-GAAP core earnings for the same period were $800 million or $0.37 per share.
PG&E is actively engaged in community support through charitable giving. In 2023, the company, along with The PG&E Corporation Foundation, provided $25.6 million in charitable contributions. This support benefitted nearly 5,000 nonprofits and schools, emphasizing the company's commitment to the communities it serves.
PG&E also faces challenges related to customer safety and utility scams. In 2023, the company received nearly 43,000 reports of scam attempts targeting its customers. PG&E works diligently to educate its customers on how to recognize and avoid such scams.
Overall, PG&E Corporation represents a critical utility provider in California, deeply intertwined with the state’s energy infrastructure, community welfare, and environmental stewardship. For more information, visit PG&E Corporation and Pacific Gas and Electric Company.
Energy Vault Holdings (NYSE: NRGV) and Pacific Gas and Electric Company (NYSE: PCG) announced a partnership to deploy a utility-scale hybrid energy storage system in Calistoga, California. The system, designed to provide 293 MWh of carbon-free energy, will support up to 2,000 electric customers during planned outages. The construction is set to begin in Q4 2023, with operations expected by Q2 2024. This innovative technology aims to replace traditional diesel generators, enhancing grid reliability and contributing to decarbonization goals.
PG&E is mobilizing over 3,000 personnel in anticipation of a significant storm impacting Northern and Central California. Following the restoration of power to nearly 500,000 customers after a previous storm, approximately 360 electric crews and 397 technicians are on standby. The incoming weather system, expected to arrive January 4, could bring damaging winds and heavy rain, creating risks like flooding and power outages. PG&E is conducting proactive measures, including pre-staging equipment to ensure a swift response to any outages that may occur.
Pacific Gas and Electric Company (PCG) is preparing for a significant storm impacting Northern and Central California, which is expected to bring heavy rain and strong winds over New Year's weekend. PG&E warns customers to prepare for potential power outages as winds may gust between 35-55 MPH. The company is deploying extra crews and staging equipment to expedite power restoration. Customers are encouraged to have emergency plans and can access real-time outage information online. PG&E emphasizes safety measures during outages and the importance of keeping contact information updated.
Pacific Gas and Electric Company (PG&E) announced a property tax payment of over $339 million during the second half of 2022, reflecting a 9% increase from the previous year. This payment supports essential public services and is part of PG&E's ongoing investment to enhance gas and electric infrastructure, particularly for safety and wildfire mitigation. The total property tax payments for the fiscal year are expected to exceed $678 million, up by $57 million compared to last year.
Pacific Gas and Electric Company (PCG) is partnering with Enphase Energy to launch the Residential Storage Initiative, offering free battery systems to around 100 vulnerable, low-income customers affected by frequent power outages in California. This initiative supports enhanced safety measures that already achieved a 65% reduction in ignition incidents due to safety-related power shutoffs. The program aims to expand to several hundred additional residential customers in 2023, enhancing resilience and reliability in high fire-risk areas.
Pacific Gas and Electric Company (PCG) has opened applications for college scholarships for students in Northern and Central California, with the deadline set for February 24, 2023. The program offers over $200,000 in awards, supporting diversity through its employee resource groups and engineering networks. Scholarships range from $500 to $6,000 and are aimed at fostering future leaders. Since 1989, PG&E has awarded more than $5 million in scholarships, funded entirely by employee contributions.
Pacific Gas and Electric Company (PG&E) and The PG&E Corporation Foundation announced a total of $900,000 in grants aimed at supporting climate resilience efforts in California communities. The funding is allocated through two programs: the Better Together Nature Positive Innovation grant program, providing $500,000 to five organizations for biodiversity and environmental projects, and the Resilience Hubs grant program, which awards $400,000 to seven organizations for establishing climate resilience hubs. Both initiatives prioritize disadvantaged communities.
Pacific Gas and Electric Company (PG&E) has contributed
Pacific Gas and Electric Company (PCG) is preparing for a significant weather system impacting Northern and Central California this weekend. Meteorologists predict rain, gusty winds, heavy snow, and potential thunderstorms. PG&E emphasizes the importance of customer preparedness for possible power outages.
The company has activated its Emergency Operations Center to allocate resources effectively for storm-related outages. PG&E urges customers to stay informed and follow safety tips during adverse weather, including treating downed power lines as dangerous and using generators safely.
Pacific Gas and Electric Company (PCG) has launched a pre-enrollment website for customers interested in participating in three Vehicle-to-Everything (V2X) pilot programs. These initiatives will incentivize over 1,000 customers to utilize bidirectional EV charging technology, allowing electric vehicles to act as mobile batteries. The programs aim to support 3 million EVs by 2030, with over 2 million having vehicle-to-grid capabilities. Financial incentives for residential participants may reach up to
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