PG&E CEO: Layers of protection are working that make customers safer

Financial Performance & Strategy - The company has lowered rates three times in the last 15 months and expects to lower them again in 2026 while growing earnings at over 9% per year [3] - Infrastructure investment is offset by operating maintenance cost reductions, leading to significant cost savings [1] - Improving credit metrics results in lower cost financing, allowing the company to lower rates for customers [2] Infrastructure & Technology - The company has buried its 1,000th mile of power lines, at a million dollars a mile less than a couple of years ago [4] - Technology underpins situational awareness and responsiveness, leading to a 35% reduction in ignitions this year despite similar fire conditions [5] - The company is implementing layers of protection, starting with hardening the system to mitigate fire risk [4] Load Growth & Rate Design - The company is experiencing rate-reducing load growth due to increased compute demand, particularly from AI applications [7] - Residential customers do not subsidize large load; large load pays its full freight [7] - The company has rate designs in place so that residential customers only benefit from new and growing load [9] - Compute data centers are located throughout the service area, supporting companies using AI in their daily business [10]