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; AMEX: PCG.PRA) warns customers to be vigilant against a rise in scams, especially as the tax filing deadline approaches on April 18, 2021. The IRS reports that scammers impersonating utility workers are targeting vulnerable populations, leading to significant financial loss. In 2021, PG&E logged over 11,000 scam reports and nearly $600,000 in fraudulent payments. Customers are advised to avoid purchasing prepaid cards and to report any suspicious activity to local authorities. PG&E continues to offer support for financially impacted customers.
Pacific Gas and Electric Company (PCG) has reached settlements concerning the 2019 Kincade Fire and the 2021 Dixie Fire, resulting in no criminal charges for the latter and dismissal of charges for the former. The agreements include $55 million in financial commitments over five years, with funds directed to local non-profits and community recovery efforts. PG&E also announced plans to hire up to 200 staff in wildfire safety roles, enhance vegetation management, and implement a five-year independent monitorship to oversee safety and inspection efforts across six Northern California counties.
Pacific Gas and Electric Company (PG&E) is expanding its Enhanced Powerline Safety Settings (EPSS) to enhance safety in high fire-threat areas. Launched in July 2021, EPSS has reduced ignitions by 80% on enabled circuits. In 2022, PG&E aims to implement these settings across 25,500 distribution line miles, supplementing other wildfire prevention measures. The utility is also improving customer communication and support during outages, aiming to decrease average outage lengths by 40%. New programs include a Generator Rebate and Portable Battery Program to aid customers during outages.
PG&E is set to distribute the California Climate Credit this month, providing financial relief for residential customers. Natural gas users will benefit from a credit of $47.83, while electric customers will see $39.30, totaling $87.13 for those using both services. This initiative is part of California's effort to reduce greenhouse gas emissions and supports customers in managing their energy costs effectively.
Pacific Gas and Electric Company (PG&E) shares essential safety tips as Californians engage in outdoor activities this spring. Customers are advised to maintain a safe distance from overhead power lines, keep toys and balloons away from electric lines, and exercise caution when grilling. The company stresses the importance of reporting downed power lines and using GFCI protection near water sources. Additionally, it's crucial to contact 811 before digging to avoid disrupting underground utility lines. PG&E aims to ensure safety as residents enjoy the season.
Pacific Gas and Electric (PG&E) highlights the importance of calling 811 two business days before any digging activities, as April is recognized as National Safe Digging Month. The utility company emphasizes that underground utility lines can be shallow and damaging them can lead to repair costs averaging
PG&E Corporation (NYSE: PCG) will host its First Quarter 2022 Earnings Call on April 28, 2022, at 11:00 a.m. Eastern Time. The call will be accessible via a simultaneous webcast through the company's website. For those unable to attend live, a replay will be available until May 5, 2022, by calling (800) 770-2030 with confirmation code 64421. This event is crucial for investors and stakeholders to get insights into the company's financial performance over the first quarter.
Pacific Gas and Electric Company (PCG, PCG.PRA) has introduced energy efficiency tips for homeowners as spring begins. Key recommendations include:
- Programmable Thermostat: Users can save 10% annually on heating and cooling.
- Water Heating: Lowering water heater temperatures can reduce costs.
- ENERGY STAR Appliances: Switching could save about $750 over their lifespan.
- Energy-Saving Lighting: Replacing five bulbs may save up to $75 yearly.
- System Maintenance: Regular filter checks can enhance efficiency.
Pacific Gas and Electric Company (PG&E, NYSE:PCG) announced a new pilot program aimed at helping California universities reduce greenhouse-gas emissions. The proposed Clean Energy Optimization Pilot (CEOP) will incentivize universities for their GHG reductions, utilizing approximately $50 million from unspent greenhouse gas auction revenues over four years. The program targets campuses in Northern and Central California, facilitating initiatives like energy-efficient retrofitting and on-site renewable energy investments. If approved, the program could launch as early as 2023.
PG&E Corporation (NYSE: PCG) announced the appointment of Carlos Hernandez, former CEO of Fluor Corporation, to its Board of Directors effective March 11, 2022. Hernandez brings extensive experience in engineering, procurement, and safety, emphasizing risk management and compliance. He aims to enhance PG&E’s operational and safety performance under CEO Patti Poppe. Hernandez has previously served as general counsel for ArcelorMittal Americas and holds degrees in civil engineering and law.
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