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) has completed the installation of Enhanced Powerline Safety Settings (EPSS) in high fire-risk areas. These settings can shut off power within one-tenth of a second upon detecting threats, reducing reportable ignitions by 80% on EPSS-enabled circuits. PG&E has expanded EPSS to cover 25,500 distribution line miles, protecting over 850,000 customers. The company is also enhancing customer support during outages, optimizing restoration processes, and launching new safety programs to reduce wildfire risks and improve service reliability.
PG&E, in collaboration with Bay Area Fire Safe Councils, has launched initiatives to aid Californians in preparing their homes against wildfires. Resources are available at Safetyactioncenter.pge.com, offering guidance on creating defensible spaces, hardening homes, and preparing emergency kits. The program includes training for community members, particularly the elderly, emphasizing the importance of wildfire preparedness. PG&E serves over 16 million customers across Northern and Central California.
Pacific Gas and Electric Company (PG&E) emphasizes safety tips for dealing with downed powerlines, especially during crises like wildfires and earthquakes. Customers are instructed to treat all downed lines as energized and report incidents immediately. Advice includes keeping a safe distance of 30 feet on dry ground and 60 feet on wet surfaces. In emergencies where powerlines block evacuation routes, PG&E advises driving slowly over lines if no alternative exists, and remaining in the vehicle until help arrives. Safety education resources are available on their website.
PG&E Corporation (NYSE: PCG) has announced an upcoming 2022 Investor Day scheduled for June 10, 2022, at 9:00 a.m. ET. The event aims to provide insights into the company's performance and future initiatives. Investors can access the presentation via a live webcast, with a replay also available afterward. PG&E, headquartered in Oakland, California, serves 16 million customers across a vast service area in Northern and Central California.
Pacific Gas & Electric Company (NYSE:PCG) prepares its customers for increased energy use during summer months due to higher air conditioning needs. Customers can access income-qualified assistance programs like the California Alternate Rates for Energy (CARE) Program and Family Electric Rate Assistance (FERA) Program for financial relief. Additional options such as Medical Baseline, Budget Billing, and Bill Forecast Alerts are available for managing costs. Customers are advised to ensure air conditioner efficiency through maintenance, debris removal, and shading to reduce energy expenses.
PG&E is enhancing support for customers during wildfire season by partnering with community organizations. They are offering discounts on generators and batteries, sponsoring a Disability Disaster Access and Resources Program, and partnering with 211 to provide 24/7 support. This year, PG&E’s Portable Battery Program has expanded eligibility, aiming to provide relief for Medical Baseline customers in high fire-threat areas. In 2021, PG&E distributed over 13,000 batteries to vulnerable populations. The company emphasizes preparedness for those dependent on power for health and safety.
Pacific Gas and Electric Company (PG&E) has launched the Power Saver Rewards Program, enrolling over 1.8 million customers to incentivize energy savings during peak hot days. The program is voluntary and runs from May 1 to October 31, providing customers with a $2 credit per kilowatt hour saved during specified hours (4 p.m. to 9 p.m.). This initiative aims to alleviate pressure on California's energy grid, reduce reliance on fossil fuels, and is supported by the California Public Utilities Commission. Customers can enroll easily and are also notified ahead of event days.
Pacific Gas and Electric Company (NYSE: PCG) and the California Fire Foundation announce a $1.4 million contribution to support wildfire safety programs during California's Wildfire Preparedness Week from May 1-7, 2022. This funding, part of the Wildfire Safety and Preparedness Program, aims to raise awareness and support underserved communities. Applications for the current year's grants are open until June 17, 2022, with awards to be notified by mid-July 2022. The program has funded 199 grants since 2018, totaling $6 million in support for fire safety initiatives.
FAQ
What is the current stock price of PG&E Corporation (PCG)?
What is the market cap of PG&E Corporation (PCG)?
What services does PG&E Corporation provide?
How many customers does PG&E serve?
What are some recent achievements of PG&E?
How did PG&E perform financially in the first quarter of 2024?
What is PG&E Corporation’s approach to community support?
How does PG&E support environmental sustainability?
What infrastructure does PG&E operate?
What energy sources does PG&E use for electricity generation?
How is PG&E addressing utility scams?