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 (PG&E) has announced a potential Public Safety Power Shutoff (PSPS) starting early December 7, due to dry conditions and high winds posing fire risks. Approximately 92,000 customers across 16 counties will be affected, down from an initial estimate of 130,000. Areas of high risk include Butte, Kern, and Plumas counties. PG&E aims to restore power within 12 hours post-event, depending on conditions. Customer notifications have commenced, and PG&E is monitoring weather closely.
Pacific Gas and Electric Company (PG&E) has issued alerts for a potential Public Safety Power Shutoff (PSPS) impacting approximately 130,000 customers across 15 counties and five tribal communities due to forecasted high winds and dry conditions. Affected counties include Alpine, Amador, and El Dorado. The PSPS is set to begin early on December 7, with restoration efforts anticipated to take no longer than 12 daylight hours after winds subside. PG&E emphasizes the importance of safety and has initiated customer notifications through various channels.
The California Public Utilities Commission approved a settlement agreement for Pacific Gas and Electric Company (PCG) addressing its 2020-2022 General Rate Case. This decision allows PG&E to invest in enhancing its electric and gas distribution systems to mitigate wildfire risks and maintain service reliability. Average monthly bills will increase by $13.44 starting March 1, 2021. PG&E aims to save $1 billion annually through various cost-saving initiatives, while enhancing customer support during Public Safety Power Shutoff events.
PACIFIC GAS AND ELECTRIC COMPANY (PG&E) launched the EV Fleet Savings Calculator to help businesses transition their fleets to electric vehicles (EVs). This tool, tailored for medium- to heavy-duty vehicles, estimates investment costs and savings based on fleet size and infrastructure. With transportation contributing to 41% of California's greenhouse gas emissions, PG&E aims to assist organizations in reducing these emissions. By 2030, PG&E plans to electrify its own vehicle fleet, including 100% of its light-duty vehicles.
Pacific Gas and Electric Company (PCG) announced plans to sell its Pleasant Creek natural gas storage field in Yolo County, California. The field, with a capacity of 2.3 billion cubic feet, represents about 2% of PG&E's total storage inventory. The sale aims to help avoid decommissioning costs, reflecting PG&E's assessment of lower future gas demand and sufficient capacity at other storage facilities. The proposal aligns with PG&E's previously approved reliability-focused storage service strategy. This sale is separate from the company's recent bankruptcy proceedings.
Pacific Gas and Electric Company (PCG) has released an advisory encouraging residents in Northern and Central California to use energy-efficient LED holiday lights. The company emphasizes safety during installation, such as keeping a safe distance from power lines and using outdoor-approved lights. LED lights are highlighted for being 75% more energy efficient, long-lasting, and significantly reducing fire risks. PG&E also recommends using timers and power strips to save energy. The release aims to enhance holiday safety awareness while promoting energy-saving practices among customers.
Pacific Gas and Electric Company (PG&E) offers energy-saving tips for Thanksgiving amid pandemic-related changes. Senior VP Laurie Giammona emphasizes safety and cost reduction for festive gatherings. Key advice includes keeping the oven door closed, using the stove, installing dimmer switches, and efficiently using dishwashers. PG&E highlights fire safety, particularly concerning turkey fryers. Customers are urged to follow CDC guidelines for COVID-19 safety. PG&E serves 16 million people in California, positioning itself as a leading energy provider.
Pacific Gas and Electric Company (PCG) is offering free in-home gas safety inspections as winter approaches. These inspections are crucial for ensuring appliances like water heaters and furnaces operate safely, reducing carbon monoxide risks. Customers can schedule an inspection by calling 1-800-743-5000. During the pandemic, PG&E technicians follow strict health protocols to ensure safety. The press release also includes tips for winter gas safety, such as installing carbon monoxide detectors and proper ventilation for gas appliances.
PG&E Corporation (NYSE: PCG) has appointed Patricia K. Poppe as Chief Executive Officer, effective January 4, 2021. Previously the CEO of CMS Energy, Poppe enhances PG&E's leadership with her extensive utility experience, focusing on clean energy and customer satisfaction. Under her tenure at CMS Energy, she led a 70% reduction in safety incidents and achieved significant customer savings through efficiency programs. Poppe's appointment follows a thorough national search, and she aims to strengthen PG&E's operations and community trust while navigating future challenges.
Pacific Gas and Electric Company (PG&E) is warning customers about potential power outages due to an incoming storm across Northern and Central California. Meteorologists predict rain, gusty winds, and possible thunderstorms starting overnight. PG&E's meteorology team has developed a Storm Outage Prediction Model to manage storm impacts effectively. Customers are advised to prepare by following key safety tips, including using generators safely and securing outdoor items. PG&E serves 16 million people and is focused on providing reliable power amidst adverse weather conditions.
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