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 (PCG, PCG.PRA) continues its long-standing commitment to supporting cooling centers across California, providing over $650,000 since 2007. This summer alone, PG&E has allocated more than $80,000 to help vulnerable populations, like seniors, during extreme heatwaves. Cooling centers are activated when local temperatures exceed set thresholds, ensuring community safety and comfort. PG&E encourages residents to utilize these resources to protect their health against rising temperatures.
PG&E Corporation has announced a charitable contribution of
Pacific Gas and Electric Company is expanding its energy efficiency training programs in response to California's projected 8% growth in the clean energy workforce. Through its Energy Training Centers, PG&E provides over 400 resources aimed at enhancing technical skills for architects, engineers, HVAC technicians, and building maintenance professionals. The new courses focus on electrification and advanced technologies such as induction cooking and heat pump systems, allowing workers to gain valuable skills at no cost.
Pacific Gas and Electric (PG&E) has partnered with Aemetis to commission a new Renewable Natural Gas (RNG) facility in Keyes, California. This project will capture over 1.6 MMBtu of dairy methane annually, equivalent to the emissions of 1.1 million cars. The initiative supports California's transportation sector, aiming for carbon neutrality. PG&E's fourth RNG interconnection highlights its commitment to expanding renewable energy sources, with a goal to achieve net-zero greenhouse gas emissions by 2040 and climate positivity by 2050.
The Redwood Coast Airport Microgrid (RCAM) in Humboldt County, California, is now operational, marking the first 100% renewable energy microgrid for multiple customers in the state. Developed through a collaboration involving Pacific Gas and Electric (PG&E), the project incorporates a 2.2 MW solar array and a 2 MW battery energy storage system. The microgrid improves energy resilience for critical services, including the airport and US Coast Guard station, allowing for continued operations during grid outages. PG&E manages the microgrid, offering a replicable model for clean energy deployment.
Pacific Gas and Electric Company (PCG, PCG.PRA) urges customers in Northern and Central California to conserve energy amid an anticipated heat wave. Temperatures are expected to soar, leading to increased energy bills due to higher air conditioning use. PG&E provides energy-saving tips and encourages enrollment in the Bill Forecast Alert, which helps customers manage their bills. Additionally, income-eligible customers can save 18% on electricity bills through the Family Electric Rate Assistance (FERA) Program. PG&E aims to assist residents in minimizing energy costs this summer.
Pacific Gas and Electric (PG&E) unveiled new commitments under its Climate Strategy Report aimed at reducing carbon emissions and achieving net zero emissions by 2040. Notably, PG&E plans to have 70% of its electric power from renewable sources by 2030 and aims to fuel 3 million electric vehicles, which could cut carbon emissions by 58 million metric tons. Additionally, the company is transitioning to cleaner gas and will assess gas projects for electrification alternatives, emphasizing equity and inclusion throughout the process.
Pacific Gas and Electric Company (NYSE:PCG) announces that over 134,000 eligible customers can enroll in its Family Electric Rate Assistance (FERA) Program, which offers an 18% discount on monthly electric bills for qualifying households. Currently, less than 25% of eligible households in Northern and Central California are enrolled. With 174,219 households eligible and only 39,907 currently participating, PG&E aims to reach more customers to maximize savings. The program is funded through a rate surcharge paid by all utility customers and is designed to help income-qualified households.
Pacific Gas and Electric Company (PG&E) has launched three new bonus episodes of its video learning series, “7 Saturdays to a More Fire-Resistant Home,” aimed at helping Californians prepare for the wildfire season. Over 300,000 viewers engaged with the series last year, which offers critical information through the Ready, Set, Go! framework. Executives emphasize the increasing wildfire risks in California, urging community preparedness. The first of the new episodes is available on PG&E’s Safety Action Center, with the remaining episodes set to release in June.
PG&E is hosting two free 811 safe digging webinars in June as part of National Safety Month. The webinars aim to educate homeowners and contractors about the 811 process, helping them avoid costly repairs from damaging underground utilities. Sessions will be led by PG&E Damage Prevention specialists on June 1 from 3:30 PM to 4:00 PM and June 4 from 10:00 AM to 10:30 AM. Customers are encouraged to call 811 before any digging to prevent accidents and ensure safety, as average repair costs for damaged lines are around $3,500.
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