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 restored power to nearly all customers affected by the Public Safety Power Shutoff (PSPS) that began on October 14. This event impacted about 41,000 customers across 24 counties due to high winds, low humidity, and dry vegetation, creating a wildfire risk. As of October 16, PG&E's Meteorology team declared all areas cleared for inspections and restoration. Wind gusts exceeding 73 MPH were recorded, prompting emergency measures. PG&E aims to restore service within 12 hours post-clearance. A report on damages will be submitted to regulators.
Pacific Gas and Electric Company (PCG) is managing a Public Safety Power Shutoff (PSPS) affecting approximately 41,000 customers across 24 counties, down from an initial forecast of 53,000 due to improved weather conditions. The company aims to reduce affected customers by one-third this year compared to last year. Support includes 40 Community Resource Centers for assistance and partnerships with 47 community organizations for medically vulnerable clients. PG&E has restored power to around 8,000 customers and expects further restorations by Friday.
Pacific Gas and Electric Company (PCG) highlights the importance of earthquake preparedness as California approaches the Great ShakeOut on October 15. Employees share personal experiences from past earthquakes, emphasizing safety measures such as securing homes and having escape plans. The Great California ShakeOut promotes the safety message of 'Drop, Cover and Hold On' to encourage residents to practice emergency protocols. PG&E urges residents to be proactive about earthquake safety to reduce risks during potential future seismic events.
Pacific Gas and Electric Company (PCG) will initiate a Public Safety Power Shutoff (PSPS) due to high winds and low humidity, affecting around 53,000 customers across 24 counties. The shutoff starts at 6 p.m. on October 14, with phases de-energizing lines in areas including the Northern Sierra Nevada and the Bay Area. PG&E plans to open 40 Community Resource Centers for assistance. Power restoration is anticipated by 10 p.m. on October 16, weather permitting. This PSPS aims to minimize wildfire risk during critical weather conditions.
Pacific Gas and Electric Company (PG&E) is preparing for a potential Public Safety Power Shutoff (PSPS) due to a strong offshore wind event expected to begin Wednesday evening. The PSPS may impact approximately 54,000 customers across 24 counties, representing about 1% of PG&E's customer base. PG&E's meteorologists and emergency teams are monitoring conditions closely, with notifications already sent to affected customers. Community Resource Centers will be established to support those impacted, especially vulnerable customers reliant on electricity for medical needs.
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.
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