PG&E Provides Customer Resources Before, During and After PSPS Outages OAKLAND, Calif., Sept. 26, 2024 /PRNewswire/ -- September is National Preparedness Month, and it coincides with the middle of California's peak wildfire season, which begins in the summer and extends through late fall. This year is no exception. Due to a historically hot summer, with June-August 2024 setting a 130-year temperature record for California, and continued hot and dry conditions in September, there will be an increased risk fo ...

OAKLAND, Calif., Sept. 26, 2024 /PRNewswire/ -- PG&E Corporation (NYSE: PCG) will hold a conference call on Thursday, November 7, 2024, at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) to discuss its third quarter 2024 results. The public can access the conference call through a simultaneous webcast. The link is provided below and will also be available from the PG&E Corporation website. What: Third Quarter 2024 Earnings Call When: Thursday, November 7, 2024 at 11:00 a.m. Eastern Time Where: http://inves ...

The November 13 event will showcase breakthrough partnerships, research and development (R&D) advancements, and provide opportunities for strategic collaboration across several key focus areas including energy supply and load management, integrated grid planning and transmission strategy, electric vehicles and vehicle-to-grid applications, climate adaptation and resilience, wildfire mitigation, electric undergrounding, and gas system decarbonization. Artificial intelligence (AI) and machine learning (ML) ap ...

California's Cap-and-Trade Program Continues to Reduce the State's Reliance on Fossil Fuels and Benefit PG&E Customers OAKLAND, Calif., Sept. 16, 2024 /PRNewswire/ -- In October, millions of residential and eligible small business customers will receive the California Climate Credit on their Pacific Gas and Electric Company (PG&E) electric bill. Customers do not need to do anything to receive the credit. Residential households with an active electric account will receive an electric credit of $55.17, the sa ...

As of Aug 30, 2024, three stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to B ...

A Free Call to 811 Will Help Keep You Safe and Avoid Expensive Repairs OAKLAND, Calif., Aug. 9, 2024 /PRNewswire/ -- Sunday, Aug. 11, is recognized as National 811 Day, to raise awareness of the importance of making a free call to 811 before any digging project, large or small. Whether you are a property owner or a contractor, calling 811 will help ensure that projects involving digging can be done safely while avoiding expensive repairs or fines due to damaging underground utility lines. Underground utilit ...

Fall 2024 event will showcase research and development (R&D) progress and introduce new energy system focus areas including Artificial Intelligence (AI) OAKLAND, Calif., Aug. 8, 2024 /PRNewswire/ -- AI, grid-enhancing technologies, stabilizing energy costs, enabling good load growth, advancing electrification, and more, will take center stage at Pacific Gas and Electric Company's (PG&E's) 2024 Innovation Summit presented by DISTRIBUTECH® on November 13 in San Jose. Innovation Summit 2024Innovation Summit 20 ...

The company reported an operating income of $1.13 billion compared with $0.51 billion a year ago. Recent Utility Releases PG&E Corporation (PCG) reported second-quarter 2024 adjusted earnings per share (EPS) of 31 cents, which surpassed the Zacks Consensus Estimate of 30 cents by 3.3%. The bottom line also improved 34.8% from the year-ago quarter's reported figure. The year-over-year improvement in the bottom line can be attributed to an increase in customer capital investment and non-fuel operating and mai ...

Core Insights - PG&E Corporation is on track to deliver solid financial results for 2024, with significant progress in safety and operations during Q2 2024 [7][40] - The company reported non-GAAP core earnings of $674 million, or $0.31 per share, for Q2 2024, an increase from $494 million, or $0.23 per share, in Q2 2023 [8][20] - GAAP earnings for Q2 2024 were $520 million, or $0.24 per share, compared to $406 million, or $0.19 per share, in the same period of 2023 [22][20] Financial Performance - Total operating revenues for Q2 2024 were $5.986 billion, up from $5.290 billion in Q2 2023 [50] - Operating income for Q2 2024 was $1.134 billion, compared to $506 million in Q2 2023 [50] - The company reaffirmed its 2024 non-GAAP core EPS guidance in the range of $1.33 to $1.37 per share [26][20] Wildfire-Related Costs - Wildfire-related costs, net of insurance, are projected to be approximately $30 million to $35 million for 2024 [2] - The company recorded wildfire-related costs of $6 million for Q2 2024, compared to $11 million for the same period in 2023 [9][20] - Legal and other costs associated with wildfires, including the 2019 Kincade fire, 2020 Zogg fire, and 2021 Dixie fire, continue to impact financial results [2][39] Operational Developments - PG&E installed 46 miles of underground powerlines and 43 miles of stronger poles in high fire-risk areas in 2024 [21] - The company connected 2,900 new residential and business customers to its electric system, totaling 5,184 in 2024 [21] - PG&E interconnected the first of four new renewable natural gas facilities planned for 2024, contributing to greenhouse gas emission reductions [21] Guidance and Future Outlook - The company updated its 2024 GAAP earnings guidance to a range of $1.11 to $1.17 per share [44] - PG&E is forecasting no equity needs in 2024 and reaffirming its financing plan for 2024-2028 [20][44] - The increase in earnings is attributed to customer capital investment and operational savings [41][24]

The Utility's Cost of electricity includes the cost of power purchased from third parties (including renewable energy resources), fuel and associated transmission costs used in its own generation facilities, fuel and associated transmission costs supplied to other facilities under power purchase agreements, costs to comply with California's cap-and-trade program, and realized gains and losses on price risk management activities. See Note 8 of the Notes to the Condensed Consolidated Financial Statements in I ...