Customers Can Lower Energy Costs with Simple Tools, Tips, & Assistance Programs OAKLAND, Calif., June 4, 2024 /PRNewswire/ -- As households spring into summer, PG&E encourages customers to prepare for the warmer months ahead by making their homes and businesses more energy efficient to reduce their energy usage, save money, and explore financial assistance programs to manage summer energy bills. More than 50% of a typical household's annual energy consumption is air conditioning and heating, according to th ...

Company Announces New Pilot Projects Focused on Forest Resilience SANTA ROSA, Calif., June 3, 2024 /PRNewswire/ -- Today (June 3), Pacific Gas and Electric Company (PG&E) joined with federal, state, local, and tribal government officials and other partners at Pepperwood Preserve to celebrate the fulfillment of its Land Conservation Commitment, achieving permanent protection of approximately 140,000 acres of PG&E-owned watershed lands. These lands are now conserved for Californians, protecting habitat for fi ...

More than $1 million in grants, public education, and outreach funded in 2023; Applications Accepted May 30 through June 30 SACRAMENTO, Calif., May 28, 2024 /PRNewswire/ -- Pacific Gas and Electric Company (PG&E) and the California Fire Foundation (CFF) are accepting grant applications this week from California-based fire departments and community-based organizations focused on wildfire safety and preparedness. The grant program continues a seven-year successful partnership between PG&E and CFF. Application ...

Power Outages from Wayward Balloons Can Put the Damper on Commencement Fun OAKLAND, Calif., May 22, 2024 /PRNewswire/ -- It is graduation season in California and Pacific Gas and Electric Company (PG&E) has an important reminder for the public about the safety risks associated with helium-filled metallic balloons. If your graduation celebration involves balloons, make sure they are secured with a weight. Otherwise, they can float away and come into contact with overhead power lines, causing a public safety ...

OAKLAND, Calif., May 17, 2024 /PRNewswire/ -- On May 16, 2024, PG&E Corporation (NYSE: PCG) declared its second-quarter 2024 regular cash dividend of $0.01 per share on the Corporation's common stock. The dividend is payable on July 15, 2024, to shareholders of record as of June 28, 2024. About PG&E Corporation PG&E Corporation (NYSE: PCG) is a holding company headquartered in Oakland, California. It is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californ ...

PG&E is one of the first energy companies in North America to deploy Standalone Power Systems as an alternative customer service offering to electricity provided through traditional grid infrastructure. Throughout PG&E's 70,000-square-mile Northern and Central California service area, pockets of remote customers are served via long electric distribution lines that in many cases traverse high fire-risk areas. Replacing these overhead powerlines with a reliable and low-carbon local energy source is an innovat ...

Financial Data and Key Metrics Changes - The core earnings per share for the first quarter came in at $0.37, an increase of $0.08 year-over-year, primarily driven by increased customer capital investment [41][54] - The CPUC rate base now provides an equity return of 10.7% as approved through the adjusted cost of capital mechanism [36] - Operating cash flow is forecasted to rise from $5 billion in 2023 to $8 billion in 2024, with a total of $50 billion in operating cash flow expected from 2024 through 2028 [57][81] Business Line Data and Key Metrics Changes - The company has exceeded its annual nonfuel O&M reduction target every year, achieving a reduction of 3% in 2022 and 5.5% in 2023 [27] - The plan includes $62 billion of customer capital investment over the next five years, with an additional $5 billion expected to be incorporated once it becomes affordable [75][79] Market Data and Key Metrics Changes - California is projected to experience 1% to 3% load growth per year in the near term, with upwards of 70% load growth over the next 20 years as the state moves towards carbon neutrality by 2045 [28] - The company has reduced its wildfire risk by 94% and has achieved a 68% reduction in ignitions compared to 2017 [45][46] Company Strategy and Development Direction - The company is committed to a five-year financing plan that does not include the proposed sale of a minority interest in Pacific Generation, reaffirming its earnings guidance and capital plan [23][25] - The strategy focuses on maintaining a conservative approach to financing while prioritizing customer capital investments and achieving a competitive dividend payout ratio [58][79] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage physical and financial risks associated with wildfires, highlighting the effectiveness of AB 1054 and the self-insurance model [44][100] - The company anticipates significant opportunities in the clean energy transition, with plans to support California's ambitious decarbonization goals [131][200] Other Important Information - The company plans to grow its dividend payout to a level closer to its regulated utility peers, with $2.5 billion included in the plan through 2028 [26] - The recent improvements in credit ratings are attributed to demonstrated financial and operational progress since 2020, particularly in wildfire risk mitigation [61][80] Q&A Session Summary Question: Can you elaborate on the timing of equity needs and the levers to manage equity needs over time? - The plan assumes a reasonable balance of utility debt, parent company debt, dividend growth, and routine equity financing [88] Question: What are your thoughts on the recent letter regarding sector wildfire risk? - The company believes California has made significant progress in mitigating both physical and financial risks, making it an investable region [91][114] Question: Can you clarify the dividend comment regarding slower growth initially and ramping up later? - The intent is to grow the dividend more slowly in the early years of the five-year plan, with a quicker ramp-up in the later years [97][119] Question: How do you view the potential for national policy regarding wildfire risk? - There is a possibility for a national safety regulator for wildfire, similar to FEMSA for gas pipelines, to establish safety standards [172] Question: What is the status of the Pac Gen transaction? - The company continues to advocate for the Pac Gen sale, believing it will bring affordability to bills and help accelerate the return to investment grade [149][150]

PG&E Corporation (PCG) reported first-quarter 2024 adjusted earnings per share (EPS) of 37 cents, which surpassed the Zacks Consensus Estimate of 35 cents by 5.7%. The bottom line also improved 27.6% from the year-ago quarter’s reported figure.The company reported GAAP earnings of 34 cents per share compared with 27 cents in the prior-year quarter.The year-over-year improvement in the bottom line can be attributed to an increase in customer capital investment, non-fuel operating and maintenance (O&M) saving ...

PG&E (PCG) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.71%. A quarter ago, it was expected that this utility holding company would post earnings of $0.45 per share when it actually produced earnings of $0.47, delivering a surprise of 4.44%.Over the last four quarters, the compan ...

OAKLAND, Calif., April 25, 2024 /PRNewswire/ -- PG&E Corporation (NYSE: PCG) is on track to deliver solid 2024 results. Financial progress includes: GAAP earnings were $0.34 per share for the first quarter of 2024, compared to earnings of $0.27 for the same period in 2023. Non-GAAP core earnings were $0.37 per share for the first quarter of 2024, compared to earnings of $0.29 per share for the same period in 2023. 2024 EPS GAAP guidance updated in the range of $1.15 to $1.20 per share. 2024 non-GAAP core E ...