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) has commenced repairs following a severe windstorm that impacted Northern and Central California, resulting in outages affecting approximately 286,000 customers. Wind gusts reached nearly 100 mph, with significant gusts recorded in several counties. As of Tuesday afternoon, about 208,000 customers had power restored, leaving 78,000 without service. PG&E deployed over 350 crews to expedite restoration efforts. Additionally, 5,000 customers faced power shutoffs for safety to prevent wildfire risks. The company aims to restore power to all affected customers by Wednesday.
PG&E Corporation (NYSE: PCG) will host a fourth quarter 2020 earnings call on February 25, 2021, at 11:00 a.m. Eastern Time. Investors can access the call via a webcast and it will be archived until April 3, 2021. The company serves over 16 million customers in Northern and Central California and is known for delivering clean energy.
For those unable to join live, a toll-free replay will be available at (800) 585-8367 with confirmation code 2695505.
Pacific Gas and Electric Company (PG&E) is monitoring an offshore weather event that may cause wind hazards and outages. An Emergency Operations Center is active, and approximately 5,465 customer accounts in seven Central California counties will face a Public Safety Power Shutoff (PSPS) to mitigate wildfire risks. This impacts less than one percent of PG&E's 5.3 million customers. No PSPS is planned for the Bay Area due to recent rains and humidity. Customers are encouraged to stay informed and prepare for potential outages during the high-risk weather conditions expected soon.
Pacific Gas and Electric Company (PCG) is monitoring an offshore weather event that may cause widespread wind damage and outages in its service area. An Emergency Operations Center is activated, with meteorologists tracking conditions. A potential Public Safety Power Shutoff (PSPS) may affect 6,100 customers in Fresno, Kern, Madera, Mariposa, and Tulare counties, while 15,000 customers were removed from the PSPS scope. Due to recent rains, no PSPS is expected in the Bay Area. The company emphasizes customer safety and preparedness amid these weather risks.
Pacific Gas and Electric Company (PCG) has alerted customers in select counties across California about a potential Public Safety Power Shutoff (PSPS) due to dry conditions and expected high winds. This precaution aims to mitigate wildfire risks. Areas potentially affected include portions of Calaveras, Fresno, Kern, Madera, Mariposa, San Luis Obispo, Santa Barbara, Tulare, and Tuolumne counties. PG&E's Emergency Operations Center is activated, and notifications to customers began two days prior to the potential shutoff. Inspections will precede any power restoration.
Pacific Gas and Electric Company (PG&E) has expanded its network of enhanced weather technology, including 1,000 weather stations and 340 high-definition fire-watch cameras, to mitigate wildfire risks. In 2020, these advancements reduced the size of Public Safety Power Shutoff (PSPS) events by an average of 55%. The company installed 400 new weather stations and 216 cameras as part of its Community Wildfire Safety Program, aiming for better situational awareness. PG&E plans to install 1,300 weather stations by the end of 2021, further improving monitoring and forecasting capabilities.
Pacific Gas and Electric Company (PCG) has submitted a request to the California Public Utilities Commission (CPUC) for approval of six new battery energy storage projects totaling 387 megawatts (MW). This initiative aims to enhance the integration of renewable energy and ensure the reliability of California's electric system. These projects fulfill procurement obligations from the November 2019 CPUC decision. Overall, PG&E has committed to over 1,000 MW of battery storage capacity by 2023.
Pacific Gas and Electric Company (PG&E) urges customers to safeguard against carbon monoxide risks as winter approaches. The CDC reports over 430 annual deaths and 50,000 hospitalizations from carbon monoxide poisoning in the U.S. PG&E emphasizes the importance of installing carbon monoxide detectors on every floor, regularly testing them, and replacing batteries as needed. Additionally, customers should refrain from using gas appliances incorrectly and ensure proper ventilation for all natural gas devices. For emergencies, PG&E advises immediate evacuation and contacting authorities.
Pacific Gas and Electric Company (PCG) advises customers to prioritize safety during the holiday season to minimize fire hazards. Increasing home fires during this time demand attention, especially with candles contributing to nearly 60% of decoration-related blazes in December. PG&E emphasizes safety tips, including proper candle usage and tree maintenance. Customers are encouraged to keep trees hydrated and away from heat sources. A household emergency plan is also recommended. For additional safety measures, visit www.pge.com/safety.
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