PG&E (US:PCG) CNBC Televisionยท2025-11-10 21:16Company Strategy & Performance - PG&E employs a "simple affordable model" involving infrastructure investment offset by operating cost reductions, load growth, and improved credit metrics to lower rates [2][3] - The company has lowered rates three times in the last 15 months and plans to lower them again in 2026 while growing earnings at over 9% per year [4] - PG&E has buried 1,000 miles of power lines, reducing costs by $1 million per mile compared to initial projects [5] - Ignitions were down 35% year-over-year due to layers of protection and technology [6] Data Center & Load Growth - PG&E's service area is experiencing load growth due to increased compute demand from AI, which is being priced appropriately so residential customers are not subsidizing large loads [8][10] - The company has a site in Woodland prepared for up to 1 gigawatt of data center load, but most applications are for 100 megawatts, described as "Goldilocks load" [13] - Compute data centers are distributed throughout PG&E's service area, supporting companies like PayPal, Zoom, and Netflix [11] Nuclear Energy & Diablo Canyon - Diablo Canyon nuclear plant provides approximately one-ninth (11%) of California's daily power production [14] - PG&E has a 5-year extension from the state for Diablo Canyon and has received a 20-year operating permission from the Nuclear Regulatory Commission, conditional upon final state permits [15] - Legislative action will be necessary to extend the operation of Diablo Canyon beyond the initial 5-year extension [16][17]