PG&E Corporation reports developments tied to its regulated utility subsidiary, Pacific Gas and Electric Company, a combined natural gas and electric utility serving more than 16 million people across Northern and Central California. News commonly covers earnings, rate and bill-credit programs, grid reliability, wildfire prevention, emergency response, and customer safety communications.
Company updates also address electric-vehicle integration, residential electrification tools, the PG&E PowerHouse demonstration lab, and the Diablo Canyon Power Plant. Operational announcements often focus on sensor data, machine learning, smart meters, bidirectional charging, and programs intended to support a safer and more resilient electric system.
PG&E Corporation (NYSE: PCG) reported third-quarter 2026 core earnings of $0.41 per diluted share and reaffirmed its annual earnings guidance. Core earnings, which exclude non-core items, fell from $0.50 per share a year earlier. GAAP earnings available for common shareholders declined to $749 million from $823 million, with diluted EPS falling to $0.34 from $0.37. Revenue slipped to $6.188 billion from $6.250 billion.
For the first nine months, GAAP EPS rose to $1.06 from $0.89, while core EPS increased to $1.24 from $1.14. PG&E reaffirmed core EPS guidance of $1.64–$1.66 for 2026 and $1.78–$1.82 for 2027. The company expects to meet its 2–4% non-fuel operating and maintenance cost reduction target. It is implementing a previously announced $2 billion reduction to its 2027 capital plan and advancing a strategic review. The utility also filed a 5,000-mile undergrounding plan with California regulators.
PG&E (PCG) outlined $370 million in San Francisco reliability and substation resilience investments for 2026, alongside longer-term grid improvement plans.
The 2026 investment is 16% more than in 2025. PG&E has spent $3 billion on reliability upgrades over the past decade and plans to invest nearly $2 billion more over the next five years. Work planned for completion this year includes 23 reliability projects, upgrades to 10,000 feet of underground cable and installation of 50 isolation and switching devices to reroute power during outages.
Over the next several years, PG&E plans to spend $75 million in the Richmond district and $60 million in the Sunset neighborhood to convert circuits to higher capacity. In Bayshore and Hunters Point, the company is investing $600 million to rebuild its substation and circuits and is improving overhead power lines.
Pacific Gas and Electric (PCG) will automatically provide eligible small business customers a $36.18 California Climate Credit on October energy bills. No action is required to receive the electric bill credit. A matching credit was delivered in April, bringing the annual total to $72.36 in 2026.
PG&E estimates nearly 370,000 small business customers across its Northern and Central California service area are eligible. Total benefits to small businesses through the program amount to $26 million in 2026. Billing periods vary, so customers whose credit does not appear in October should see it on their next month's bill.
PG&E (PCG) is notifying customers of a potential public safety power shutoff as it monitors a statewide fire weather system. The shutoff could begin Wednesday evening, October 14, affecting approximately 88,000 customers across 29 counties and six Tribes. Approximately 5,500 Medical Baseline customers are in scope. Customers will receive another notice within four hours of their planned shutoff. PG&E urges affected customers to prepare for extended outages.
Pacific Gas and Electric Company (PCG) expanded a potential Public Safety Power Shutoff that may affect approximately 88,000 customers. The event is forecasted from October 14 evening through October 17 afternoon across 29 counties and six Tribal governments. Updated scope adds approximately 25,000 customers and removes approximately 7,300. Approximately 5,500 Medical Baseline customers may be affected. PG&E plans to open more than 40 Community Resource Centers across 23 counties.
Pacific Gas and Electric Company (PCG) may shut off power Wednesday evening, October 14, affecting approximately 70,000 customers to reduce wildfire risk.
The potential Public Safety Power Shutoff is forecasted to last through Saturday afternoon, October 17, across portions of 29 counties. Dry vegetation and forecast offshore winds prompted advance customer notifications. The potential scope includes 3,920 Medical Baseline customers and five Tribal governments. Roughly 5,700 customers included in the original event have since been removed from its scope. Conditions may change, and community resource center locations have not yet been confirmed.
Itron (ITRI) and Pacific Gas and Electric Company are expanding their wildfire-mitigation collaboration with a scaled pilot of grid-monitoring devices. Building on an initial proof-of-concept, the companies are validating fault prevention and location technologies in high fire-risk areas of PG&E's service territory. Grid Edge Intelligence uses sensing devices and local data analysis to detect, locate and classify potential electrical faults.
Initial installations are underway in Santa Cruz, with approximately 3,000 devices planned for the first phase and approximately 10,000 planned through 2027. PG&E plans to scale to hundreds of thousands of devices by 2030 under the broader collaboration. Itron says the technology can support earlier intervention and reduce outage frequency and duration; the deployment remains a pilot validating the technology at scale.
PG&E (PCG) filed a proposed 10-year plan to underground approximately 5,000 miles of electric distribution lines from 2028 to 2037.
The work would span more than 30 Northern and Central California counties. PG&E estimates long-term benefits of $117 billion, more than 10 times the proposed investment, and approximately $6 billion in avoided vegetation management, operations and maintenance costs over the assets' lives. It forecasts nearly 98% lower ignition risk and 90% fewer outages on lines moved underground.
Undergrounding cost per mile has fallen approximately 25% over the last few years. Energy Safety approval remains pending; if approved, PG&E will seek conditional cost approval from the California Public Utilities Commission. Subject to regulatory approval, PG&E expects to underground or upgrade more than 11,000 miles in high wildfire-risk areas by the end of 2037.
Pacific Gas and Electric (PCG) added Critical Loop to its Flex Connect approved-provider list after Cygnus passed interoperability testing.
Critical Loop’s power controller also earned CSIP 2030.5 certification and already held a UL 3141 listing. Critical Loop describes Cygnus as the first power controller with both. Flex Connect lets customers with controllable loads connect using available grid capacity while adjusting consumption during periods of constraint. The PG&E program supports five operational sites and has more than 85 additional projects in its active pipeline. Critical Loop is onboarding commercial and industrial customers across California.
PG&E Corporation (PCG) will hold a call on October 22, 2026, to discuss its third-quarter 2026 results. The call begins at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time). The public can watch a simultaneous webcast at http://investor.pgecorp.com/news-events/events-and-presentations/default.aspx.