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.
Pacific Gas and Electric Company (PCG) is donating $1.4 million to the California Fire Foundation (CFF) for its Wildfire Safety and Preparedness Program (WSPP) in 2021. This funding aims to enhance fire safety resources in underserved communities in high fire-risk areas of California. Applications for grants will be accepted until June 18, 2021, with notifications starting on July 31, 2021. Over the past three years, CFF has awarded grants to 145 fire departments, targeting areas identified by the California Public Utilities Commission's High Fire-Threat District map.
Pacific Gas and Electric Company (PCG) warns customers about increasing scams as the May 17 tax filing deadline approaches. Con artists impersonate PG&E employees to steal personal information and demand immediate payments to avoid service disconnections. Vulnerable groups, especially seniors and low-income families, are often targeted. PG&E reassures customers they never request financial information via phone or email and offers steps to verify legitimacy. Victims should report scams, with one customer recently losing $1,000. For more details, visit PG&E's scams page.
Pacific Gas and Electric Company (PCG) is enhancing its commitment to safety by implementing year-round wildfire prevention measures and improving Public Safety Power Shutoff (PSPS) events. To solicit customer feedback, PCG is hosting weekly wildfire safety webinars featuring discussions on wildfire prevention efforts, resources for customers, and advancements in safety technology. These webinars will occur every Thursday evening through April 2021, covering various counties, and will be open to all customers with multilingual accessibility options.
As wildfire season nears, Pacific Gas and Electric Company (PCG) emphasizes wildfire preparedness during California's Wildfire Preparedness Week. The company encourages homeowners to create defensible space around their properties by trimming vegetation and clearing flammable materials. Tips include maintaining roofs and gutters free of debris and landscaping with fire-resistant plants. PG&E's Safety Action Center offers educational resources for families to prepare for natural disasters. With over 16 million customers, PG&E is committed to enhancing safety and resilience in wildfire-prone areas.
Pacific Gas and Electric Company (PCG) has announced the Better Together STEM Scholarship Program, providing $250,000 in scholarships for students pursuing degrees in STEM fields. The program will award 20 scholarships of $10,000 and 20 scholarships of $2,500. Scholarships are based on academic achievement, community involvement, and financial need. Since 2012, over $6.5 million has been awarded to students. Eligible applicants include high school seniors and college students who are PG&E customers and plan to enroll in full-time undergraduate studies in California.
PG&E Corporation (NYSE: PCG) has appointed Carla J. Peterman as Executive Vice President, Corporate Affairs, effective June 1, 2021. She will oversee corporate strategies, regulatory affairs, and public policy. Joining from Southern California Edison, Peterman has vast experience in California energy policy and was instrumental in wildfire legislation. Additionally, Margaret K. Becker and Christopher M. Patterson were appointed Vice President and Treasurer, and Vice President of State Legislative Affairs, respectively, effective May 1, 2021.
PG&E's meteorology team is monitoring an upcoming weather system affecting Northern and Central California, which is expected to bring rainfall and mountain snow starting Saturday. The company emphasizes the potential for weather-related power outages and reminds customers to prepare for safety. They have developed a Storm Outage Prediction Model using real-time weather data to enhance their response to outages. Customers are urged to follow safety tips during outages, including avoiding downed wires, using flashlights instead of candles, and preparing backup phone systems.
Pacific Gas and Electric Company (PCG) announced a reduction in residential customer bills this month due to the California Climate Credit. Customers receiving both gas and electric services will benefit from a credit of $41.82, while gas-only customers will see a credit of $24.62 and electric-only customers will receive $17.20. This credit reflects customer contributions to California's carbon pollution permit auctions. Amid ongoing financial struggles due to the pandemic, PG&E encourages customers with past-due balances to utilize various financial assistance programs before emergency protections expire.
Pacific Gas and Electric Company (PG&E) has launched enhanced resources to assist customers during Public Safety Power Shutoffs (PSPS) due to severe weather, which can lead to wildfires. Key initiatives include improved customer notifications in 16 languages, Address Alerts, expanded Community Resource Centers, and partnerships for meal replacements. Additionally, PG&E is supporting vulnerable populations with portable batteries and expanding community partnerships. The company is also committed to improving grid safety and reducing PSPS incidents through vegetation management, grid upgrades, and new technologies.
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