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.
PG&E is responding to a severe atmospheric river storm that impacted Northern and Central California, causing power outages for approximately 630,000 customers, about 10% of its 5.5 million electric customers. As of Monday evening, power was restored to 580,000 customers, leaving roughly 50,000 still affected. PG&E has deployed 3,000 personnel and is utilizing mutual aid from other utility companies. Record-breaking rainfall was reported, with some areas receiving over 17 inches, prompting ongoing safety measures and customer communications.
Pacific Gas and Electric Company (NYSE: PCG) has mobilized a comprehensive response to an early-season atmospheric river storm affecting Northern and Central California.
Approximately 380,000 customers experienced power outages, with 250,000 restored by Sunday evening, leaving 130,000 still impacted. PG&E activated its Emergency Operations Center and deployed 3,000 crews for restoration efforts.
The storm is anticipated to linger, with maximum wind gusts reaching 60 mph in San Francisco and rainfall exceeding 6 inches in some areas.
Pacific Gas and Electric Company (PG&E) is preparing for a major storm expected to bring rainfall between 3 to over 10 inches across Northern and Central California. The utility has deployed more than 500 crews, including electric and vegetation management teams, to restore power quickly and safely. Meteorologists predict strong winds of up to 65 mph, which may cause widespread power outages. PG&E's Storm Outage Prediction Model will guide response efforts. Customers are encouraged to stay informed via the outage center.
PG&E is set to handle adverse weather conditions forecasted for Northern and Central California over the next week. The company is implementing extensive storm readiness measures, including real-time weather forecasting and the pre-staging of resources to address potential outages. Storms expected tonight will bring rain, snow, and winds up to 45 mph, with additional severe weather anticipated through Monday. Customers are encouraged to prepare for potential outages and can access outage information through various channels.
Global Clean Energy Holdings (OTC-PINK: GCEH) has signed a Master Services Agreement with Pacific Gas and Electric (PG&E) to implement renewable projects at its Bakersfield Renewable Diesel Refinery. PG&E's Sustainable Solutions Turnkey (SST) team will oversee project engineering and construction. Planned projects include a 10 MW solar plant and various energy efficiency upgrades. These initiatives aim to cut operating costs and reduce the refinery's carbon intensity, enhancing the value of Low Carbon Fuel Standard (LCFS) credits generated from renewable fuels.
Pacific Gas and Electric Company (PG&E) has achieved ISO 55001 certification for its asset management systems in electric operations, marking a significant development in its safety culture. This certification, awarded by Lloyd's Register after a rigorous three-year evaluation, underscores PG&E's commitment to safety and reliability in service delivery. The certification enables better risk management and enhances operational performance across its extensive network of over 18,000 miles of transmission lines and nearly 1,000 substations, as it continues to invest in workforce development and technology.
The press release from Pacific Gas and Electric Company (PCG) highlights the issue of 'energy vampires' in homes, which contribute to an additional 10% increase in monthly electricity bills, costing Americans an extra $100-$200 annually. It provides a room-by-room guide to identify and mitigate these energy drains, including advice on unplugging appliances and using smart power strips. The release encourages residents to be proactive in reducing energy consumption, especially as Halloween approaches. For more tips, the release directs readers to further energy-saving resources.
Pacific Gas and Electric Company (PG&E) has installed 4,827 Level 2 electric vehicle (EV) charging ports across Northern and Central California since 2018, significantly increasing access to EV charging. The EV Charge Network program, in collaboration with businesses and charging companies, has enabled 5.5 gigawatt-hours of electricity usage, equating to over 1,400 cars removed from the roads annually. Notably, 39% of new chargers cater to disadvantaged communities, enhancing EV accessibility.
PG&E launched the fourth episode of its 7 Saturdays to a More Fire-Resistant Home series, aimed at helping Californians prepare for wildfires. The episode focuses on creating emergency plans and kits for safe evacuations. David Hawks, a former CAL FIRE Chief, stresses the importance of having a household emergency plan that is reviewed biannually. Key topics include signing up for emergency alerts, essential items for emergency kits, and evacuation planning. This initiative supports PG&E's ongoing commitment to public safety amid California's wildfire season.
Pacific Gas and Electric Company (PCG) is enhancing customer safety against wildfires with a new weather webpage that offers localized forecasts updated daily by its meteorologist. The 7-Day PSPS Potential forecast indicates the likelihood of Public Safety Power Shutoffs (PSPS) across its service area. This tool features four levels of PSPS risk and offers real-time weather data across 70,000 square miles of Northern and Central California. Notably, it includes notifications for non-account holders through Address Alerts, ensuring broad community awareness.
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