PG&E Corporation - PCG STOCK NEWS

Pacific Gas and Electric Company (PCG) has issued a warning ahead of Valentine’s Day regarding the dangers of metallic balloons. In 2020, these balloons caused 453 power outages impacting over 250,000 customers, reflecting a nearly 30% rise from 2019. With the pandemic leading to more at-home celebrations, PG&E emphasizes safety tips, including securing helium balloons and keeping them indoors. The top cities affected last year were Bakersfield, San Jose, Oakland, Stockton, and San Francisco. PG&E aims to prevent outages and ensure a safe holiday for all.

Pacific Gas and Electric Company (PCG) has submitted a proposal to the California Public Utilities Commission aimed at reducing wildfire risk and enhancing public safety. The 2021 Wildfire Mitigation Plan includes strategies for equipment inspection, vegetation management, and advanced technology integration. Key objectives involve improving situational awareness through new weather stations and cameras, enhancing the Public Safety Power Shutoff (PSPS) program, and investing approximately $3 billion annually for wildfire mitigation over two years. Customer feedback is encouraged on this plan.

Pacific Gas and Electric Company (PCG) announced a definitive agreement to sell its wireless license agreements to a subsidiary of SBA Communications for approximately $973 million. This sale involves over 700 electric transmission towers, allowing SBA to market and sublicense additional access to wireless providers. PG&E expects this transaction to reduce financing needs, improve financial stability, and lower customer bills. Additionally, PG&E will receive revenue from future sublicenses on up to 28,000 towers. The deal is expected to close in early 2021.

Pacific Gas and Electric Company (PG&E) provides customers with tips to save energy and maintain safety during the winter months, especially as more people remain at home. With increased energy consumption expected, PG&E emphasizes the importance of practical measures. Recommendations include lowering thermostat settings, controlling water heater temperatures, checking for air duct leaks, and utilizing energy-efficient appliances. Additionally, safety guidelines address the risks associated with carbon monoxide and space heaters. PG&E aims to support customers in managing energy use effectively during the colder season.

PG&E has restored power to nearly all of the 944,000 customers who lost electricity due to a severe storm that brought record rain, snow, and wind. As of 2 PM, about 98% of affected customers had their power reinstated, although some remain without service in areas with severe damage and closed roads. Over 1,500 instances of damaged infrastructure were identified, necessitating repairs to 365 broken poles and 1,417 spans of wire. Meteorologists warn of another incoming winter system that could impact service restoration further.

Pacific Gas and Electric Company (PG&E) continues its efforts to restore power to customers impacted by a severe winter storm, with 95% of those affected already having their service restored. As of Friday, around 42,000 customers remain without power, mainly due to access issues from heavy snow and fallen trees. The storm, described as the strongest since 2011, has caused significant infrastructure damage, including over 1,500 damaged segments, and PG&E has deployed more than 450 crews to assist in restoration efforts. Additionally, PG&E has provided community support during outages.

Pacific Gas and Electric Company (PCG) initiates power restoration efforts after a severe winter storm impacted California.

Since the storm began, approximately 575,000 customers lost power, with 434,000 restored, leaving 141,000 still affected. Over 400 crews are deployed, using specialized vehicles to access hard-hit areas.

Significant weather conditions were reported, including wind gusts up to 80 mph and rainfall totals exceeding 5.5 inches.

PG&E Corporation (NYSE: PCG) has appointed Adam Wright as Executive Vice President of Operations and Chief Operating Officer, and Julius Cox as Executive Vice President of People and Shared Services, effective February 1, 2021. CEO Patti Poppe expressed confidence in their leadership to enhance the company’s operations and workforce capabilities. Wright brings extensive utility experience from MidAmerican Energy, while Cox has a strong background in human resources from American Electric Power. These appointments are aimed at strengthening PG&E's commitment to safety and service for its 16 million customers across California.

Pacific Gas and Electric Company (PCG) will transition approximately 2.5 million residential electric customers in Northern and Central California to a Time-of-Use rate plan from April 2021 to March 2022, encouraging energy use during off-peak hours. Approved by the California Public Utilities Commission in 2015, this plan aims to enhance customer control over electric bills while supporting California's clean energy goals. Customers will receive risk-free Bill Protection for the first 12 months and can select from various rate plans.