PG&E Us - PCG STOCK NEWS

PG&E Corporation (NYSE: PCG) reported a GAAP loss of $0.05 per share for 2021, an improvement from a loss of $1.05 in 2020. The fourth-quarter earnings were $0.22 per share, compared to $0.09 in the previous year. Non-GAAP core earnings for 2021 were $1.08 per share, down from $1.61. The company initiated 2022 EPS guidance of $0.89 to $1.23 for GAAP earnings. A total of $59.1 million in preferred dividends will be paid on May 13, 2022. PG&E completed vegetation management on 1,983 miles, exceeding its goal by 10%. A conference call is scheduled for February 10, 2022.

As winter approaches, natural gas usage rises, accounting for over 70% of household energy consumption due to heating systems, water heaters, and washers/dryers. PG&E advises customers on ways to manage escalating energy bills caused by increased consumption and natural gas price spikes. Key tips include enhancing furnace efficiency, improving duct performance, lowering water heater temperatures, washing clothes in cold water, and not over-drying clothes. Usage and bills are projected to decrease as temperatures rise in March and April.

Pacific Gas and Electric Company (PG&E) has rebranded its Wildfire Safety Operations Center (WSOC) to the Hazard Awareness & Warning Center (HAWC) to enhance its capability in monitoring various natural disasters, including earthquakes and flooding, alongside wildfires. This transition reflects PG&E's commitment to safety and proactive disaster management. The HAWC utilizes advanced technology, such as AI and machine learning, through over 500 cameras and 1,300 weather stations to ensure quick response and efficient communication during emergencies. The center plays a vital role in PG&E's Community Wildfire Safety Program.

Pacific Gas and Electric Company (PCG) is offering landowners free removal of large-diameter wood from trees cut down during its 2021 wildfire response. This initiative, responding to community feedback, allows landowners to opt-in for the removal of debris deemed hazardous. The program extends to trees removed due to safety concerns from various wildfires, including the Dixie, Caldor, and Anderson Fires. PG&E is contacting affected landowners to facilitate the process, emphasizing that permission is required for wood removal.

Pacific Gas and Electric Company (NYSE:PCG) plans to add nine new battery energy storage projects totaling approximately 1,600 MW to enhance California's renewable energy integration. If approved by the California Public Utilities Commission, this will increase PG&E's total storage capacity to over 3,330 MW by 2024. The projects aim to support California’s greenhouse gas reduction policies and replace retiring natural gas generation. The first projects are expected to come online as early as August 2023, contributing to grid reliability and cleaner energy delivery.

Pacific Gas and Electric Company (PCG) warns customers of rising energy costs this winter due to a 90% increase in natural gas prices compared to last year. The utility emphasizes that it passes these costs to customers without markup. To mitigate these expenses, PG&E encourages customers to adopt energy-saving practices, such as lowering thermostats and using programmable thermostats. The company also offers payment assistance programs, including the Arrearage Management Plan, which can forgive up to $8,000 in unpaid balances for qualifying customers.

Pacific Gas and Electric Company has launched an innovative interconnection system that connects renewable natural gas (RNG) produced from dairy waste in Merced County, California to its pipeline. This project, developed in partnership with Maas Energy Works and California Energy Exchange, aims to reduce greenhouse gas emissions by converting methane from dairies into a clean energy source. The California Public Utilities Commission provided funding through its Dairy Biomethane Pilot Program. This initiative is expected to enhance California's renewable energy landscape.

PG&E Corporation (NYSE: PCG) will host a Fourth Quarter 2021 Earnings Call on February 10, 2022, at 11:00 a.m. ET. Investors can join via a live webcast, and access a replay until February 17, 2022. PG&E, headquartered in San Francisco, serves over 16 million customers in Northern and Central California with natural gas and electric services. For more details, visit the company's investor relations page.