PG&E Corporation - PCG STOCK NEWS

Pacific Gas and Electric Company (NYSE: PCG) is actively enhancing safety measures to protect electric equipment across Northern and Central California. Crews are pruning and removing trees threatening powerlines in high fire-risk areas as part of the Enhanced Vegetation Management (EVM) Program. This year, over 350,000 trees are targeted, building on last year's success of 1,983 miles of powerline work. PG&E aims to improve wildfire safety further through its ambitious 10,000-mile Undergrounding Program, which plans to bury around 3,600 miles of powerlines by 2026.

PG&E has achieved a significant milestone with over 50% of its customers now opting for paperless billing, saving 1,100 trees monthly. This transition is part of PG&E's efforts to combat climate change, having helped customers avoid 645,782 metric tons of CO2 emissions last year, equating to approximately $437 million in savings. The program offers secure, fast, and convenient access to billing information, encouraging further participation among customers. PG&E continues to promote its environmentally friendly initiatives.

Pacific Gas and Electric Company (PCG) announced the launch of a groundbreaking hydrogen study and demonstration facility called Hydrogen to Infinity (H2∞). This initiative aims to explore hydrogen's potential as a renewable energy source, integrating it with the existing natural gas system. The facility, located in Lodi, California, will focus on various aspects such as technical needs, market development, and energy resilience. This project underscores PG&E’s commitment to reducing greenhouse gas emissions and advancing zero-carbon energy solutions.

PG&E Corporation Foundation has expanded its Better Together STEM Scholarship Program to include students from Historically Black Colleges and Universities (HBCUs), providing a total of $250,000 in scholarships. The program will offer 20 scholarships of $10,000 and 20 awards of $2,500. Since its inception in 2012, the program has awarded over $6.5 million to students excelling in STEM fields. Applications are open to high school seniors, GED recipients, current undergraduates, and non-traditional students.

Pacific Gas and Electric Company (PG&E) has been awarded the 2022 Tree Line USA status by the Arbor Day Foundation, recognizing its commitment to urban forestry in Central and Northern California. The award highlights PG&E's adherence to best practices in urban forest management, tree care, and public education. PG&E emphasizes the importance of trees for environmental benefits and community aesthetics, while encouraging customers to opt for Paperless Billing, which conserves resources.

PG&E Corporation (NYSE: PCG) announced a significant increase in first-quarter 2022 GAAP earnings to $0.22 per diluted share, up from $0.06 in Q1 2021. Non-GAAP core earnings also rose to $0.30 per diluted share from $0.23 year-over-year. The corporation adjusted its 2022 GAAP earnings guidance to a range of $0.85 to $1.16, while reaffirming non-GAAP core earnings guidance at $1.07 to $1.13. Factors such as cost reductions and growth in rate base earnings contributed to positive financial performance, despite challenges from wildfire-related costs and restructuring expenses.

Pacific Gas and Electric (PG&E) announced a significant payment of over $464 million this spring to support local economies in California. The payments include more than $310 million in property taxes and nearly $154 million in franchise fees paid to various counties and cities. This represents an increase of $84 million in property taxes compared to the previous year. PG&E aims to enhance public services while reinforcing its infrastructure to mitigate wildfire risks and support community development.

Pacific Gas and Electric Company (NYSE:PCG) announced the commissioning of its 182.5-megawatt Tesla Megapack battery energy storage system, the Elkhorn Battery, at the Moss Landing substation in Monterey County. Officially certified by CAISO on April 7, 2022, the system can store and dispatch up to 730 megawatt hours of energy, improving energy reliability in California. The project is part of a larger initiative to deploy 3,330 MW of battery energy storage systems by 2024, addressing local energy demand and enhancing grid stability.

The California Restaurant Foundation (CRF) is offering $3,000 grants to independent restaurants impacted by the COVID-19 pandemic, with support from PG&E Corporation Foundation contributing $500,000. Applications are open from April 15-30, 2022, focusing on businesses with fewer than three units and under $3 million in revenue, particularly prioritizing minority and women-owned establishments in Northern and Central California. Last year, 109 grants were awarded, aiding restaurant recovery and employee retention.