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 (CAISO) has issued a Flex Alert urging California residents to conserve energy today, June 18, from 6 p.m. to 9 p.m. This is due to high temperatures, expected to reach between 105-112 degrees, increasing electricity demand mainly from air conditioning. PG&E encourages energy-saving practices, such as adjusting thermostats and avoiding appliance use during peak hours. The utility also assures no need for a Public Safety Power Shutoff despite the heat, while offering programs for Demand Response to support customers in saving energy.
Pacific Gas and Electric (PCG) has launched a new video series titled ‘7 Saturdays to a More Fire-Resistant Home’, featuring expert David Hawks. This series provides valuable tips for Californians to prepare homes against wildfires amid significant drought conditions. With over 90% of California facing heightened wildfire risks, Hawks aims to educate homeowners on creating defensible spaces, hardening homes cost-effectively, and preparing for evacuations. The first episode is now available on the Safety Action Center, with new content released weekly for seven weeks.
Pacific Gas and Electric Company (PCG) announced that no rotating power outages were necessary today despite extreme heat, due to adequate power supply. Following a Grid Warning from CAISO, PG&E notified approximately 121,000 customers to prepare for potential outages. Energy conservation by Californians helped maintain grid stability. Another Flex Alert is called for Friday from 6 p.m. to 9 p.m. to encourage further energy conservation. PG&E provided tips for reducing energy use, emphasizing measures to take during peak hours.
The California Independent System Operator issued a Grid Warning for Pacific Gas and Electric Company (PCG), indicating potential rotating outages for approximately 121,000 customers this evening due to high demand from air conditioning amidst extreme heat. Although rotating outages have not been mandated, stakeholders are advised to conserve energy from 5 p.m. to 10 p.m. to alleviate pressure on the grid. Efforts include pre-cooling homes and avoiding major appliance use during peak hours. PG&E is actively notifying affected customers and deploying crews for existing heat-related outages.
The California Independent System Operator (CAISO) has issued a Flex Alert for June 17, calling for statewide energy conservation due to anticipated record-high temperatures. The alert is effective from 5 p.m. to 10 p.m., highlighting the expected increase in electricity demand from air conditioning usage. PG&E encourages customers to conserve energy with tips like setting thermostats higher and utilizing fans. They assure that they can meet the forecasted power demand without issuing rotating outages. Customers can find cooling centers and save energy during peak hours.
The first significant heat wave of the summer is forecasted to arrive in Northern and Central California this week, with temperatures soaring to between 105 and 110 degrees in some areas. PG&E's meteorologists are monitoring the situation and are prepared for potential power outages. Customers are advised to conserve energy, with tips provided for managing electricity use. Although no outages are anticipated, safety measures are recommended in case of disruptions.
Pacific Gas and Electric Company (PG&E) has launched its first hybrid renewable standalone power system in Briceburg, California. Designed to improve service reliability while reducing wildfire risk, this system replaces overhead powerlines in a High Fire-Threat District. The system features solar energy with battery storage and backup propane generation, providing up to 89% renewable energy annually. PG&E aims to expand this model to other remote areas within its service region to enhance reliability and lower costs.
PG&E is enhancing its support for customers during Public Safety Power Shutoff (PSPS) events, particularly for those relying on electricity for essential needs. The company offers various programs, including Generator Rebate and Portable Battery Program, aimed at providing discounted or free backup power solutions. Additionally, the Disability Disaster Access and Resources Program assists individuals with disabilities. These initiatives aim to ensure that vulnerable populations can maintain access to critical energy sources during wildfire-related outages, promoting safety and reliability.
Pacific Gas and Electric Company (PCG) is hosting weekly wildfire safety webinars every Thursday in June. These sessions aim to educate customers on wildfire prevention efforts, resources for Public Safety Power Shutoff (PSPS) events, and safety technology improvements. Each webinar includes a presentation followed by a Q&A session, open to all PG&E customers. Scheduled webinars will cover specific counties such as Butte, Colusa, Lake, Napa, Marin, and Sonoma. Closed captioning in multiple languages will be available, and further participation information can be found at pge.com/wildfiresafety.
Pacific Gas and Electric Company (PCG) is investing $2 million in grants to local Fire Safe Councils (FSCs) in California for wildfire prevention projects in 2021. This initiative supports community safety amid increased wildfire risks due to extreme weather conditions. Since 2014, PG&E has allocated $17 million to FSCs, focusing on fire safety improvements such as fuel reduction and emergency access enhancements. The funding will support 32 projects, showcasing PG&E's ongoing commitment to mitigating wildfire hazards and enhancing community preparedness.
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