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PG&E Corporation - PCG STOCK NEWS

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.

News

More Than $200,000 in College Scholarships Now Available from PG&E for Students in Northern and Central California

Rhea-AI Summary
Pacific Gas and Electric Company (PG&E) is offering scholarships for college-bound high schoolers and current college students in Northern and Central California. More than $200,000 is available through 13 employee resource groups and engineering network groups. The deadline for applications is March 15, 2024.
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600 Miles and Counting: PG&E Hits Significant Milestone as Crews Safely Complete Construction, Energization of 350 More Miles of Underground Powerlines in 2023

Rhea-AI Summary
Pacific Gas and Electric Company (PG&E) has constructed and energized more than 600 miles of underground powerlines since its ambitious 10,000-Mile Undergrounding program started in mid-2021. The 350 miles completed in 2023 represents the most ever in a single year by PG&E and nearly twice as many miles as were completed in 2022. The unit cost has now fallen below $3 million per mile, eliminating nearly 98% of the risk of wildfire ignition from electrical equipment. The California Public Utilities Commission recently approved PG&E's 2023-2026 General Rate Case, which authorized 1,230 miles of undergrounding during those four years.
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Nuclear Regulatory Commission Accepts PG&E's Diablo Canyon Power Plant License Renewal Application, Allows Both Units to Continue Operating Past Current Licenses

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Pacific Gas and Electric Company (PG&E) (NYSE: PCG) receives federal Nuclear Regulatory Commission (NRC) determination of sufficiency for License Renewal Application (LRA) for extended operations of Diablo Canyon Power Plant (DCPP). The multi-year review process will provide opportunities for public participation. PG&E filed the LRA on Nov. 7 to ensure electric reliability for all Californians. The facility is the state's largest power plant and producer of clean energy, generating enough carbon-free electricity to meet the needs of three million people. The California Public Utility Commission approved new retirement dates for Diablo Canyon's Units 1 and 2, now 2029 and 2030 respectively.
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Keeping Local Restaurants Cooking: 77 Restaurants to Receive $5,000 Resilience Grants, Just in Time for the Holidays

Rhea-AI Summary
PG&E Corporation (PCG) Foundation supports small restaurants in Northern and Central California, awarding $900,000 in grants to 77 hometown restaurants in 24 counties. The contribution aims to help increase long-term business success through equipment upgrades, workforce training, and operating support for the California Restaurant Foundation. The grants will be used for technology adoption, equipment upgrades, employee onboarding and retention, and overcoming unforeseen hardships, prioritizing minority- and women-owned businesses. The combined total contribution from PG&E and PG&E Foundation is now $2.3 million, supporting a total of 521 restaurants.
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Brighten Your Holiday, Lighten Your Energy Bills and Celebrate with Energy Efficiency

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Pacific Gas and Electric Company (PG&E) is helping customers make the holiday season sustainable and affordable. With simple, low-cost actions, customers can trim their carbon footprint and energy bills. PG&E encourages the use of LED lights, smart timers, and energy-efficient entertaining. They also offer a home insulation program to help customers save on energy bills.
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Navigating Innovation: PG&E Hosts Utility Drone Operations Conference

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Pacific Gas and Electric Company (PG&E) held a first-of-its-kind event for exploring the usage of unmanned aerial systems for utility operations in San Ramon, Calif. The event included product demonstrations and discussions with UAS hardware, software, and drone service providers. PG&E has been using drones for electric transmission infrastructure inspections since 2015 and has expanded their usage to perform gas pipeline leak surveys, string powerlines, and conduct fully remote drone operations for electric system inspections.
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PG&E Corporation Announces Upsize and Pricing of $1.9 Billion Convertible Senior Secured Notes due 2027 to Prepay Portion of Existing Term Loan

Rhea-AI Summary
PG&E Corporation (NYSE: PCG) announced the pricing of $1.9 billion aggregate principal amount of 4.25% Convertible Senior Secured Notes due 2027, reflecting an upsize of $400 million over the previously announced offering size. The net proceeds from the notes will be approximately $1.876 billion, intended to prepay $1.9 billion of the loans outstanding under its secured term loan credit agreement. The Convertible Notes will mature on December 1, 2027, with an interest rate of 4.25% per year, payable semiannually in arrears. The initial conversion price represents a premium of approximately 35.0% over the last reported sale price of PG&E Corporation's common stock on November 29, 2023.
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PG&E Corporation Announces Proposed Offering of $1.5 Billion Convertible Senior Secured Notes due 2027 to Repay Portion of Existing Term Loan

Rhea-AI Summary
PG&E Corporation (NYSE: PCG) plans to offer $1.5 billion aggregate principal amount of Convertible Senior Secured Notes due 2027 in a private placement. The net proceeds will be used to partially repay loans outstanding under its secured term loan credit agreement. The Convertible Notes will be secured by the pledge of PG&E Corporation's ownership interest in Pacific Gas and Electric Company and any other shares of common stock of the Utility obtained in the future. The offering is made only to qualified institutional buyers under Rule 144A of the Securities Act.
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PG&E Corporation Reinstates Common Stock Dividend

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PG&E Corporation (PCG) reinstates common stock dividend for the first time since 2017, reflecting substantial progress in becoming a safe and stable utility. The company declared a regular quarterly cash dividend of $0.01 per share, payable on January 15, 2024. This move allows PG&E to attract new sources of capital and lower-cost financing, translating into more affordable customer rates in the long term.
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PG&E Corporation Schedules Business Update Call

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PG&E Corporation (PCG) to Hold Business Update Call Following General Rate Case Decision
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FAQ

What is the current stock price of PG&E Corporation (PCG)?

The current stock price of PG&E Corporation (PCG) is $19.82 as of December 20, 2024.

What is the market cap of PG&E Corporation (PCG)?

The market cap of PG&E Corporation (PCG) is approximately 42.8B.

What services does PG&E Corporation provide?

PG&E Corporation, through its subsidiary Pacific Gas and Electric Company, provides natural gas and electric services to customers in Northern and Central California.

How many customers does PG&E serve?

PG&E serves approximately 5.3 million electricity customers and 4.6 million gas customers in Northern and Central California.

What are some recent achievements of PG&E?

Recent achievements include the completion of the Land Conservation Commitment, the implementation of wildfire risk reduction projects, and the deployment of a 100% renewable remote electric grid at Pepperwood Preserve.

How did PG&E perform financially in the first quarter of 2024?

PG&E reported first-quarter 2024 income available for common shareholders of $732 million or $0.34 per share, with non-GAAP core earnings of $800 million or $0.37 per share.

What is PG&E Corporation’s approach to community support?

PG&E Corporation supports communities through significant charitable contributions, providing $25.6 million in 2023 to nearly 5,000 nonprofits and schools.

How does PG&E support environmental sustainability?

PG&E supports environmental sustainability through initiatives like the Land Conservation Commitment, wildfire risk reduction projects, and the deployment of renewable energy technologies.

What infrastructure does PG&E operate?

PG&E operates 18,000 miles of transmission lines, 107,000 miles of distribution lines, and 43,300 miles of natural gas distribution pipelines.

What energy sources does PG&E use for electricity generation?

PG&E uses a mix of energy sources, including nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources, for electricity generation.

How is PG&E addressing utility scams?

PG&E actively educates customers on recognizing and avoiding utility scams and collaborates with the Federal Trade Commission to enhance consumer protection.

Where can I find more information about PG&E?

For more information, visit PG&E Corporation’s website at www.pgecorp.com and Pacific Gas and Electric Company’s website at www.pge.com.

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PG&E Corporation

NYSE:PCG

PCG Rankings

#304 Ranked by Market Cap
#2015 Ranked by Dividends

PCG Stock Data

42.84B
2.59B
2.67%
76.57%
1.27%
Utilities - Regulated Electric
Electric & Other Services Combined
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United States of America
OAKLAND