PG&E Us Stock Price, News & Analysis

PG&E is raising awareness about utility scams on Utility Scam Awareness Day (November 20, 2024), as scammers intensify their efforts during the holiday season. In 2024, PG&E customers have reported nearly 15,000 scam attempts, resulting in losses exceeding $334,000, with an average loss of $628 per incident.

Scammers typically threaten immediate service disconnection, demand instant payment, request prepaid cards, or offer fake refunds. Over 500 reports targeted small and medium-sized businesses. PG&E emphasizes that they never demand immediate payment via specific methods like prepaid cards, Zelle, or Venmo, and always provide advance disconnection notifications through mail.

PG&E is preparing for the first significant atmospheric river storm of the season by mobilizing crews and resources across key regions. The company has opened its Emergency Operations Center in Vacaville to coordinate storm response efforts. The weather event is expected to bring prolonged heavy rain and winds to North Bay, Sacramento Valley, Sierra, and Bay Area regions through Friday.

The utility is utilizing machine learning outage models to forecast concentrated outage areas and pre-position crews for power restoration. PG&E is prestaging equipment including power poles, powerlines, and transformers throughout its service area to ensure quick restoration of power in affected areas.

PG&E has reached a significant milestone by completing over 800 miles of underground powerlines since 2021, including more than 360 miles in 2023 alone. The undergrounding effort now serves customers in 27 counties, reducing wildfire risk by 98% in those locations while improving reliability. The company has already completed 187 miles toward its 2024 target of 250 miles, with plans to complete 330 miles in 2025 and 440 miles in 2026. PG&E aims to reach more than 1,600 total miles across 30 counties by end of 2026. The company uses machine-learning-based risk modeling to determine highest-risk lines for undergrounding, with priority given to highest-risk circuits.

PG&E and Itron are collaborating on an innovative EV Connect program to make electric vehicle charging more accessible and affordable. The pilot program uses distributed intelligence edge computing on customers' electric meters to enable Level 2 EV charging without costly panel upgrades. This solution particularly benefits the approximately 50% of PG&E homes with 100-amp service, avoiding thousands in upgrade costs and months of waiting. The initial pilot will support up to 1,000 residential customers and is set to launch in early 2025, with broader availability planned for the second half of 2025.

PG&E has launched the first commercial deployment of an on-site generative AI solution at Diablo Canyon Power Plant, utilizing Atomic Canyon's 'Neutron Enterprise' AI system. The solution, powered by NVIDIA's AI platform, aims to transform document management and improve operational efficiency. Diablo Canyon, California's only nuclear power plant, provides 9% of the state's electricity and 17% of its zero-carbon energy. The AI system will revolutionize the handling of billions of pages of technical documentation required by regulations, reducing search times from hours to seconds. The solution integrates OCR, RAG, and AI-powered search technology to enhance data accessibility and operational efficiency.

Westbank and PG&E have announced a groundbreaking proposal for a net zero community in downtown San Jose. The project includes three data centers and approximately 4,000 residential units, combining AI infrastructure with housing development. PG&E will supply about 200 megawatts of energy to power the data centers, featuring an innovative district energy system that repurposes excess heat for neighboring buildings' heating and hot water needs.

The project, supported by San Jose Mayor Matt Mahan, aims to reduce carbon footprints and lower electricity costs for connected tenants. Plug and Play is set to be the first tenant with their AI Center of Excellence, which will include an accelerator, exhibition halls, and a learning center.

PG&E is offering free in-home gas safety checks to help customers prepare for winter. The service includes gas appliance inspections and pilot light re-lighting for heaters and appliances that were inactive during warmer months. This initiative aims to prevent carbon monoxide (CO) poisoning, which has led to over 6,000 suspected incidents in 2024 alone.

The service ensures safe and efficient operation of water heaters, furnaces, and ovens. According to CDC data, CO poisoning causes over 400 deaths, 100,000 emergency room visits, and 14,000 hospitalizations annually in the US. Customers can schedule appointments online at pge.com/pilotlights or call 800-743-5000.

PG&E (PCG) reported strong Q3 2024 financial results with GAAP earnings of $0.27 per share, up from $0.16 in Q3 2023. Non-GAAP core earnings reached $0.37 per share, compared to $0.24 in the same period last year. The company updated its 2024 GAAP EPS guidance to $1.09-$1.14 and narrowed non-GAAP core EPS guidance to $1.34-$1.37. For 2025, PG&E initiated GAAP EPS guidance of $1.30-$1.36 and non-GAAP core EPS of $1.47-$1.51. The company added $1 billion to its 2024-2028 capital plan, bringing the total to $63 billion, and reaffirmed no equity needs in 2024 with $3 billion equity needs for 2025-2028.

Pacific Gas and Electric Company (PG&E) has released its 2024 R&D strategy report, highlighting artificial intelligence as a key component for achieving clean energy goals and improving customer experience. The company currently employs AI in various operations including meteorology, planning, inspections, monitoring, maintenance, and customer communications. These AI applications enhance wildfire risk management and operational performance.

The report outlines opportunities for AI to improve data analysis, expand capacity, reduce emissions, stabilize bills, and enhance customer service. PG&E will further discuss AI and other innovations at its 2024 Innovation Summit on November 13 in San Jose, California, where it plans to showcase breakthrough innovations and facilitate industry collaboration.