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.
Pacific Gas and Electric Company (NYSE: PCG) has announced that customers and non-account holders can sign up for Public Safety Power Shutoff (PSPS) alerts for any address.
To continue receiving notifications, those who signed up before
PG&E emphasizes planning for outages and provides resources for emergency preparedness.
Pacific Gas and Electric Company (NYSE:PCG) released a bonus episode of its series "7 Saturdays to a More Fire-Resistant Home," focusing on wildfire preparedness. The episode guides Californians on how to prepare for evacuations during fire season, highlighting the importance of being ready when conditions change. Key topics include packing an emergency evacuation kit, steps to take during a wildfire, and staying informed. The series aims to equip families with essential safety knowledge to protect themselves and their homes.
Pacific Gas and Electric Company (NYSE:PCG) has released insights on common energy-saving myths during extreme summer heat, aiming to help customers reduce their energy bills. The company stresses that setting the thermostat lower does not cool homes faster and that fans do not cool rooms when unoccupied. Additionally, closing vents can lead to increased energy consumption. PG&E also recommends pre-cooling homes, unplugging appliances, changing air filters, and using window coverings. Customers can access tools like Bill Forecast Alerts to manage their bills better.
PG&E and The PG&E Corporation Foundation have pledged $1 million for local disaster relief and recovery in 2022, including $750,000 to the American Red Cross. This funding aims to address wildfire preparedness and immediate response needs in underserved communities. Specifically, $25,000 will support organizations helping residents affected by the Electra Fire, and $300,000 will assist the Red Cross for local disaster responses. These contributions come from PG&E shareholders and underline the company's commitment to community support during fire season.
Pacific Gas and Electric Company (PCG) has partnered with Tesla to launch a pilot program creating a virtual power plant (VPP) to enhance electric grid reliability. Over 1,500 customers have enrolled to date, out of an invitation to 25,000 PG&E customers with Powerwalls. The program provides cash incentives, offering $2 per kilowatt-hour for electricity discharged during peak demand hours (4 to 9 p.m.). This initiative is part of PG&E's Emergency Load Reduction Program, aiming to utilize residential home batteries to support the grid in California.
The Gold Shovel Association (GSA) has appointed Joe Forline, Senior Vice President of Gas Operations at Pacific Gas and Electric Company (PG&E), to its Board of Directors. Forline, boasting over 35 years of experience in the utility sector, will enhance GSA’s focus on public and workforce safety centered on excavation and safe digging. His expertise will support GSA’s mission in raising awareness of the Gold Shovel Standard, contributing to improved damage prevention practices. In 2021, PG&E reported achieving top industry performance in damage prevention.
Pacific Gas and Electric Company (PG&E) has announced new leadership appointments in its Electric Operations and Gas Engineering sectors. Janisse Quiñones will become Senior Vice President, Electric Operations, bringing over 20 years of utility experience. Christine Cowsert Chapman will succeed her as Senior Vice President, Gas Engineering. Martin Wyspianski will take over as Vice President, Electric Engineering. These changes aim to enhance safety, reliability, and readiness within PG&E's energy systems, as emphasized by CEO Patti Poppe.
PG&E emphasizes safety precautions for the Fourth of July amid high temperatures and drought conditions. The utility advises customers to adhere to local fireworks regulations to prevent fires and electric hazards. Key safety tips include attending professional fireworks shows, avoiding illegal fireworks, and being cautious around power lines. Additionally, the company urges people to stay hydrated, recognize heat stroke symptoms, and ensure swimming safety. Customers are encouraged to update their contact information online to receive important alerts.
Pacific Gas and Electric Company (NYSE:PCG) has initiated the installation of up to 130 electric vehicle (EV) charging ports across 22 schools in Northern and Central California. The pilot program, named EV Charge Schools, aims to address charging gaps and support California’s clean transportation goals. As part of the initiative, PG&E will install level 2 charging stations funded by the company, with a significant portion of chargers in disadvantaged communities. An educational curriculum on EVs and sustainability will also be developed for K-12 teachers.
Pacific Gas and Electric Company (NYSE:PCG) continues its initiative to enhance community safety with the second episode of "7 Saturdays to a More Fire-Resistant Home." Hosted by Alicia Mason and fire safety expert David Hawks, the program educates customers on preparing for fire season. Key topics include tracking home hardening projects and creating emergency plans that include pets. This episode is available on the Safety Action Center, a resource aimed at helping families prepare for emergencies. A third episode will be released in July.
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