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Pacific Gas and Electric Company (PG&E) has launched the Power Saver Rewards Program, enrolling over 1.8 million customers to incentivize energy savings during peak hot days. The program is voluntary and runs from May 1 to October 31, providing customers with a $2 credit per kilowatt hour saved during specified hours (4 p.m. to 9 p.m.). This initiative aims to alleviate pressure on California's energy grid, reduce reliance on fossil fuels, and is supported by the California Public Utilities Commission. Customers can enroll easily and are also notified ahead of event days.
Pacific Gas and Electric Company (NYSE: PCG) and the California Fire Foundation announce a $1.4 million contribution to support wildfire safety programs during California's Wildfire Preparedness Week from May 1-7, 2022. This funding, part of the Wildfire Safety and Preparedness Program, aims to raise awareness and support underserved communities. Applications for the current year's grants are open until June 17, 2022, with awards to be notified by mid-July 2022. The program has funded 199 grants since 2018, totaling $6 million in support for fire safety initiatives.
Pacific Gas and Electric Company (PG&E) is launching three pilot programs to test bidirectional electric vehicle (EV) charging technologies. These initiatives aim to determine how EVs can provide power back to the grid and support customers during outages. The pilots will include residential, business, and microgrid settings in high fire-threat districts. Participants can earn financial incentives, with enrollment starting in late summer 2022. These programs are part of PG&E's broader efforts to integrate EVs into the power grid to enhance reliability and efficiency.
Pacific Gas and Electric Company (NYSE: PCG) is actively enhancing safety measures to protect electric equipment across Northern and Central California. Crews are pruning and removing trees threatening powerlines in high fire-risk areas as part of the Enhanced Vegetation Management (EVM) Program. This year, over 350,000 trees are targeted, building on last year's success of 1,983 miles of powerline work. PG&E aims to improve wildfire safety further through its ambitious 10,000-mile Undergrounding Program, which plans to bury around 3,600 miles of powerlines by 2026.
PG&E has achieved a significant milestone with over 50% of its customers now opting for paperless billing, saving 1,100 trees monthly. This transition is part of PG&E's efforts to combat climate change, having helped customers avoid 645,782 metric tons of CO2 emissions last year, equating to approximately $437 million in savings. The program offers secure, fast, and convenient access to billing information, encouraging further participation among customers. PG&E continues to promote its environmentally friendly initiatives.
Pacific Gas and Electric Company (PCG) announced the launch of a groundbreaking hydrogen study and demonstration facility called Hydrogen to Infinity (H2∞). This initiative aims to explore hydrogen's potential as a renewable energy source, integrating it with the existing natural gas system. The facility, located in Lodi, California, will focus on various aspects such as technical needs, market development, and energy resilience. This project underscores PG&E’s commitment to reducing greenhouse gas emissions and advancing zero-carbon energy solutions.
PG&E Corporation Foundation has expanded its Better Together STEM Scholarship Program to include students from Historically Black Colleges and Universities (HBCUs), providing a total of
Pacific Gas and Electric Company (PG&E) has been awarded the 2022 Tree Line USA status by the Arbor Day Foundation, recognizing its commitment to urban forestry in Central and Northern California. The award highlights PG&E's adherence to best practices in urban forest management, tree care, and public education. PG&E emphasizes the importance of trees for environmental benefits and community aesthetics, while encouraging customers to opt for Paperless Billing, which conserves resources.
PG&E Corporation (NYSE: PCG) announced a significant increase in first-quarter 2022 GAAP earnings to $0.22 per diluted share, up from $0.06 in Q1 2021. Non-GAAP core earnings also rose to $0.30 per diluted share from $0.23 year-over-year. The corporation adjusted its 2022 GAAP earnings guidance to a range of $0.85 to $1.16, while reaffirming non-GAAP core earnings guidance at $1.07 to $1.13. Factors such as cost reductions and growth in rate base earnings contributed to positive financial performance, despite challenges from wildfire-related costs and restructuring expenses.
