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.
The California Independent System Operator has issued a Flex Alert urging Californians to conserve energy today from 4-9 p.m. due to ongoing heat and the Bootleg Fire impacting electric transmission lines. The fire has drastically reduced power supplies, causing up to 3,500 megawatts loss in capacity. Previous Flex Alerts led to significant energy savings, helping to prevent rolling power outages. With temperatures expected to reach 113 degrees, PG&E emphasizes the importance of energy conservation measures for both residential and business customers.
California’s grid operator, CAISO, has issued a Flex Alert due to a growing wildfire in Southern Oregon and extreme heat, urging residents to conserve electricity. The alert is in effect from 4 p.m. to 9 p.m. on Saturday. Last month’s similar alerts led to significant energy reductions, helping to avoid power outages. PG&E encourages customers to reduce usage through various conservation tips. Despite increased demand, PG&E does not foresee power outages or the need for public safety power shutoffs, as they are prepared for the heat wave.
The California Independent System Operator (CAISO) has issued a Flex Alert for July 9, urging residents to conserve electricity from 4 p.m. to 9 p.m. due to extreme heat conditions. Increased demand from air conditioning is expected to strain the power grid. With temperatures reaching up to 114°F in some areas, PG&E's weather team does not anticipate power shortages but emphasizes conservation efforts. Home and business energy-saving tips are provided, including adjusting thermostats and utilizing fans. CAISO reports previous successful reductions in energy use during past Flex Alerts.
Pacific Gas and Electric (PCG) is aiding Californians as wildfire season peaks by sharing vital safety information. In the fourth episode of the 7 Saturdays to a More Fire-Resistant Home series, experts discuss emergency kits and evacuation plans. Key topics include signing up for emergency alerts, essentials for go-bags, and evacuation strategies. This initiative highlights PG&E’s commitment to community safety amid natural disasters. Viewers can access the series on PG&E's Safety Action Center.
Pacific Gas and Electric Company (PCG) has announced an extension of the moratorium on utility service disconnections until September 30, 2021. This measure, initiated in March 2020 by the California Public Utilities Commission, aims to provide ongoing relief to customers facing financial difficulties. Eligible customers will be auto-enrolled in new payment plans by the end of September. While disconnections are on hold, other customer protections have expired. PG&E continues to support customers, having assisted nearly 300,000 in the California Alternate Rates for Energy program since February 2020.
This Fourth of July marks California's first major holiday without COVID-19 restrictions, encouraging celebrations. PG&E urges customers to prioritize safety, highlighting risks associated with fireworks, barbeques, and swimming. The company recommends attending public fireworks displays, staying clear of power lines, and reporting any electric hazards. PG&E also emphasizes summer safety tips, including proper swimming precautions and heat-related illness awareness. Customers are encouraged to update their contact information for timely safety alerts. PG&E serves over 16 million people across Northern and Central California.
Pacific Gas and Electric Company (PCG) has proposed crucial safety and clean energy investments as part of its 2023 General Rate Case (GRC) aimed at serving 16 million customers. The proposal includes approximately $7.4 billion in investments from 2023-2026 focused on wildfire safety, gas system reliability, and clean energy expansion. Key initiatives include hardening power lines, investing in electric vehicle infrastructure, and enhancing grid resilience. If approved, customer bills may increase by around 5% annually. The GRC aims to reduce wildfire risks and improve overall service.
Pacific Gas and Electric Company (PCG) has launched the third episode of its series, “7 Saturdays to a More Fire-Resistant Home,” aimed at helping Californians improve home safety against wildfires. This episode teaches viewers affordable methods for home hardening, such as sealing gaps to prevent ember entry. Co-hosted by PG&E experts, the series emphasizes the importance of these adjustments in increasing resilience against wildfires. New episodes will be released weekly for seven weeks on PG&E's Safety Action Center.
Pacific Gas and Electric Company (PCG) is hosting a series of weekly wildfire safety webinars throughout July 2021. These events aim to inform customers about wildfire prevention plans and gather feedback. Key topics include PG&E’s wildfire prevention efforts, resources for customers during Public Safety Power Shutoff (PSPS) events, and improvements in safety technology. Webinars will occur every Thursday from 6 p.m. to 7:30 p.m., covering various counties. Participation is open to all customers, with closed captioning available in multiple languages.
Pacific Gas and Electric Company (PG&E) supports community cooling centers to assist residents during extreme heat. This year, PG&E expands its funding partnerships with multiple counties and cities, including West Sacramento and Kingsburg, enhancing support for at-risk individuals, particularly seniors. Since 2007, PG&E has contributed over $600,000 to existing cooling centers. The company encourages public awareness through tips for safety during hot weather. More information can be found on PG&E's website.
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