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 announced a potential Public Safety Power Shutoff (PSPS) affecting about 50,000 customers across 21 counties due to forecasted hot, dry conditions and high winds. The shutoff may begin Wednesday evening, with restoration targeted within 12 hours after conditions improve. Key affected areas include Alameda, Butte, and Sonoma counties. PG&E stresses customer preparedness and emphasizes enhanced notification systems based on customer feedback. The company aims to minimize the size and duration of outages this year.
PG&E Corporation (NYSE: PCG) will hold a third quarter 2020 earnings call on October 29, 2020, at 11:00 a.m. ET. The call will be accessible via a live webcast hosted on the PG&E website. A replay will be available until November 5, 2020, through a toll-free number and online. PG&E serves over 16 million people in Northern and Central California, employing more than 23,000 workers. For further details, visit pge.com.
Pacific Gas and Electric Company (PCG) has issued safety guidelines for customers returning to Sonoma and Napa Counties after evacuations due to the Glass Fire. The company emphasizes the importance of being aware of potential electric and gas hazards. Crews are working to restore safe conditions, and residents are advised to follow local authorities' directions. Essential safety tips include treating downed power lines as energized, checking for damaged wiring, and ensuring proper generator installation. For gas leaks, residents should call 911 and avoid restoring gas service themselves.
Pacific Gas and Electric Company (PCG) is enhancing its wildfire safety measures by expanding its network of weather stations and fire watch cameras. In 2020 alone, PG&E installed 300 weather stations and 137 cameras, bringing the totals to 900 weather stations and 270 cameras. The company aims to reach 1,300 stations and 600 cameras by 2022. This initiative aims to improve situational awareness and mitigate wildfire risks, particularly during high fire-threat seasons. Data from these installations will inform decisions on Public Safety Power Shutoffs (PSPS) to prevent wildfires.
Pacific Gas and Electric Company (PG&E) is providing essential wildfire recovery support for customers affected by recent wildfires in Northern and Central California. PG&E offers various assistance programs, including financial aid through the CARE and FERA programs, and billing support for those whose homes were impacted. Customers can also receive credit relief and access safety tips when returning home. PG&E emphasizes its commitment to assist communities during this challenging time, ensuring that necessary resources are available for recovery and rebuilding.
The California Independent System Operator (CAISO) has issued a Flex Alert due to soaring temperatures expected today, October 1, from 3 p.m. to 10 p.m. The alert urges Californians to conserve energy amidst rising electricity demand primarily driven by air conditioning usage. Wildfires are further complicating the energy supply, disrupting power generation and potentially affecting solar production. PG&E offers several energy-saving tips for both residential and commercial customers and encourages participation in demand response programs to mitigate potential power shortages.
During National Drive Electric Week (Sept. 26-Oct. 4), Pacific Gas and Electric Company (PCG) urges residential customers with electric vehicles (EVs) to apply for the $800 Clean Fuel Rebate before the deadline of December 31, 2020. The rebate, initiated in 2017, has distributed over $92 million to approximately 145,000 customers. PCG also commits to electrifying its vehicle fleet by 2030, targeting 100% of its light-duty fleet. The initiatives aim to support California's climate goals and promote clean transportation.
The California Independent System Operator (CAISO) has issued a Flex Alert for Thursday, Oct. 1, from 3 p.m. to 10 p.m. due to anticipated triple-digit temperatures. The alert aims to ensure energy supply meets demand, especially with increased air conditioning use. PG&E suggests customers conserve energy by using fans, closing shades, and adjusting thermostats. Although CAISO does not foresee rotating outages at this time, conservation is crucial to avoid power interruptions. PG&E's Demand Response programs encourage energy-saving participation among 261,000 customers.
Pacific Gas and Electric Company (PCG) has announced $1 million in charitable contributions to support communities impacted by the ongoing wildfires in California. This funding includes $500,000 from PG&E and the same amount from The PG&E Corporation Foundation. The contributions will primarily aid local organizations responding to food insecurity and providing relief to displaced residents. PG&E's previous commitments this year also included $100,000 to the American Red Cross and $50,000 to the California Association of Food Banks.
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