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PG&E Corporation - PCG STOCK NEWS

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.

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The California Public Utilities Commission (CPUC) has approved PG&E's sale of its San Francisco headquarters for approximately $800 million. This transaction is expected to result in a net gain of $400 million for customers over five years, helping to moderate future rate increases. PG&E plans to relocate to Oakland in 2022, aiming for long-term cost savings and improved operational efficiency. The new headquarters will consolidate several East Bay locations, further simplifying real estate costs and enhancing workplace flexibility.

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Pacific Gas and Electric (PG&E) has deployed a linear generator at its Angwin distribution microgrid in Napa County, utilizing natural gas and renewable biogas to replace diesel generation. This initiative, in collaboration with NextEra Energy Resources and Mainspring Energy, aims to enhance clean energy solutions during emergencies like winter storms and Public Safety Power Shutoff (PSPS) events. The pilot project seeks to reduce diesel utilization and emissions while providing reliable power. NextEra has financed the $150 million deployment, emphasizing the potential of the linear generator for low-cost, clean energy in California.

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PG&E alerts customers about the rise in utility scams during the COVID-19 pandemic, with over 2,700 reported attempts since June 2021. Scammers target vulnerable populations, demanding immediate payments via prepaid cards to avoid disconnection. Key affected locations include San Francisco, Santa Rosa, Bakersfield, and Fresno. PG&E urges vigilance and provides resources to help customers protect themselves, such as registering for My Account and recognizing warning signs of scams. Customers should report suspicious activities to PG&E or local authorities.

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Pacific Gas and Electric Company (PCG) is assisting schools in Northern and Central California transition to electric buses through its EV Fleet program. Over 30 school districts are adopting around 350 electric buses with PG&E's help in building necessary electrical infrastructure and providing rebates for EV chargers. Notable participants include Clovis Unified School District and Red Bluff Joint Union High School District, each incorporating electric buses into their fleets. This initiative aligns with California's goals for reducing greenhouse gas emissions from transportation, which is the state's largest source of such emissions.

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Pacific Gas and Electric Company (PG&E) has expanded its network of weather stations across Northern and Central California, now totaling over 1,200 installations. With more than 200 new stations added this year, PG&E aims to improve its safety measures during Public Safety Power Shutoff (PSPS) events. The stations collect critical data such as temperature and wind speed, aiding meteorologists in predicting severe weather and enhancing operational planning. PG&E plans to reach 1,300 stations by the end of 2021, bolstering its wildfire safety initiatives.

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Pacific Gas and Electric Company (PCG) celebrates National Hydropower Day on August 24, highlighting its leadership in hydroelectric power generation for over 125 years. PG&E operates one of the largest hydroelectric systems in the U.S., encompassing 168 dams and 64 powerhouses, providing over 3,800 megawatts of capacity. The U.S. hydropower sector contributed 6.6% to national electricity generation in 2019, showcasing the industry's significance in clean energy. PG&E emphasizes safety and aims to raise awareness of its hydroelectric systems during this observance.

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Pacific Gas and Electric (PCG) emphasizes energy-saving tips as students return to school. Key strategies include setting thermostats to 78 degrees or higher, using refrigerators efficiently, unplugging unused devices, and purchasing ENERGY STAR certified products. These practices can help customers save on energy bills while fostering long-term energy-efficient habits. PG&E also provides a Home Energy Checkup for insights into energy consumption.

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Pacific Gas and Electric Company (PCG) has successfully restored power to nearly all 50,000 customers affected by the Public Safety Power Shutoff (PSPS) across 13 counties in California. The shutoff, initiated due to high wildfire risks, included comprehensive inspections of over 3,200 miles of power lines. Preliminary reports indicate at least 10 instances of weather-related damage, with four posing potential wildfire risks. PG&E will submit a detailed PSPS report to the California Public Utilities Commission within 10 days.

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Pacific Gas and Electric Company (PG&E) has restored power to nearly 55% of the 48,000 customers affected by the recent Public Safety Power Shutoff (PSPS) due to severe weather conditions. As of late August 19, PG&E anticipates full restoration for remaining affected customers across eight counties. Power shutdowns were necessary to mitigate wildfire risks from high winds, with gusts recorded up to 56 mph in Butte County. PG&E remains committed to customer support, offering resources and updates during this event.

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Pacific Gas and Electric Company (PCG) has initiated power restorations following a Public Safety Power Shutoff (PSPS) that affected around 48,000 customers across 13 counties due to extreme winds and drought conditions. Crews are inspecting over 3,289 miles of lines and working to restore power safely and efficiently. While some areas may experience delays in restoration due to damage, PG&E has opened 34 Community Resource Centers to support affected customers with necessary resources. Strong wind gusts were reported, with Butte reaching 56 mph.

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FAQ

What is the current stock price of PG&E Corporation (PCG)?

The current stock price of PG&E Corporation (PCG) is $21.04 as of November 18, 2024.

What is the market cap of PG&E Corporation (PCG)?

The market cap of PG&E Corporation (PCG) is approximately 55.2B.

What services does PG&E Corporation provide?

PG&E Corporation, through its subsidiary Pacific Gas and Electric Company, provides natural gas and electric services to customers in Northern and Central California.

How many customers does PG&E serve?

PG&E serves approximately 5.3 million electricity customers and 4.6 million gas customers in Northern and Central California.

What are some recent achievements of PG&E?

Recent achievements include the completion of the Land Conservation Commitment, the implementation of wildfire risk reduction projects, and the deployment of a 100% renewable remote electric grid at Pepperwood Preserve.

How did PG&E perform financially in the first quarter of 2024?

PG&E reported first-quarter 2024 income available for common shareholders of $732 million or $0.34 per share, with non-GAAP core earnings of $800 million or $0.37 per share.

What is PG&E Corporation’s approach to community support?

PG&E Corporation supports communities through significant charitable contributions, providing $25.6 million in 2023 to nearly 5,000 nonprofits and schools.

How does PG&E support environmental sustainability?

PG&E supports environmental sustainability through initiatives like the Land Conservation Commitment, wildfire risk reduction projects, and the deployment of renewable energy technologies.

What infrastructure does PG&E operate?

PG&E operates 18,000 miles of transmission lines, 107,000 miles of distribution lines, and 43,300 miles of natural gas distribution pipelines.

What energy sources does PG&E use for electricity generation?

PG&E uses a mix of energy sources, including nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources, for electricity generation.

How is PG&E addressing utility scams?

PG&E actively educates customers on recognizing and avoiding utility scams and collaborates with the Federal Trade Commission to enhance consumer protection.

Where can I find more information about PG&E?

For more information, visit PG&E Corporation’s website at www.pgecorp.com and Pacific Gas and Electric Company’s website at www.pge.com.

PG&E Corporation

NYSE:PCG

PCG Rankings

PCG Stock Data

55.17B
2.14B
2.73%
77.17%
1.32%
Utilities - Regulated Electric
Electric & Other Services Combined
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United States of America
OAKLAND