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PG&E Corporation - PCG STOCK NEWS

Welcome to our dedicated page for PG&E Corporation news (Ticker: PCG), a resource for investors and traders seeking the latest updates and insights on PG&E Corporation stock.

PG&E Corporation (NYSE: PCG) is a major utility holding company based in Oakland, California. Through its principal subsidiary, Pacific Gas and Electric Company, PG&E provides natural gas and electric service to approximately 16 million people across a 70,000 square mile territory in Northern and Central California.

Pacific Gas and Electric Company delivers electricity to 5.3 million customers and natural gas to 4.6 million customers. Its extensive infrastructure includes about 18,000 circuit miles of interconnected transmission lines, 107,000 circuit miles of distribution lines, and 43,300 miles of natural gas distribution pipelines. The company’s energy generation portfolio is diverse, encompassing nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.

In terms of recent achievements, PG&E has made significant strides in environmental initiatives. In 2024, it completed its Land Conservation Commitment, permanently protecting approximately 140,000 acres of watershed lands. PG&E has also launched several wildfire risk reduction projects and implemented its first 100% renewable remote electric grid at Pepperwood Preserve, demonstrating its commitment to sustainability and innovation.

Financially, PG&E has shown robust performance. For the first quarter of 2024, the company reported income available for common shareholders of $732 million or $0.34 per share. This increase is attributed to customer capital investments and non-fuel operating and maintenance savings. PG&E Corporation’s non-GAAP core earnings for the same period were $800 million or $0.37 per share.

PG&E is actively engaged in community support through charitable giving. In 2023, the company, along with The PG&E Corporation Foundation, provided $25.6 million in charitable contributions. This support benefitted nearly 5,000 nonprofits and schools, emphasizing the company's commitment to the communities it serves.

PG&E also faces challenges related to customer safety and utility scams. In 2023, the company received nearly 43,000 reports of scam attempts targeting its customers. PG&E works diligently to educate its customers on how to recognize and avoid such scams.

Overall, PG&E Corporation represents a critical utility provider in California, deeply intertwined with the state’s energy infrastructure, community welfare, and environmental stewardship. For more information, visit PG&E Corporation and Pacific Gas and Electric Company.

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Utility scams have surged throughout 2024, with Pacific Gas and Electric (PCG) customers reporting losses exceeding $300,000 due to fraudulent activities. Scammers typically impersonate PG&E representatives, threatening service disconnection unless immediate payments are made using pre-paid debit cards, digital payment apps, or other money transfer methods. PG&E emphasizes that it never demands such payments or asks for financial information via phone or email. To combat these scams, PG&E advises customers to visit the official website, log into their accounts, or contact customer service directly. Additionally, PG&E has received nearly 13,000 reports of scams, affecting both residential and business customers, with nearly 500 victims. The company urges customers to stay informed and report suspicious activities. For more information, visit pge.com/scams or contact local law enforcement if threatened.

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PG&E (NYSE: PCG) will hold a conference call to discuss its second quarter 2024 earnings on Thursday, July 25, 2024, at 11:00 a.m. Eastern Time. The public can access the conference call via a simultaneous webcast available on PG&E's investor relations website.

PG&E is a holding company based in Oakland, California, and is the parent company of Pacific Gas and Electric Company. This utility company provides energy services to 16 million Californians across Northern and Central California.

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PG&E is preparing for a significant heatwave expected to start on Tuesday and last through July 4. With temperatures reaching triple digits in the Sacramento Valley and high 90s along the coast, the company is mobilizing resources and pre-positioning crews to handle potential heat-related power outages. PG&E's outage prediction models are being used to determine the areas most at risk, and the Emergency Operations Center has been activated. Additionally, there's a potential for Public Safety Power Shutoffs (PSPS) affecting about 12,000 customers in ten counties. Community Resource Centers will be available to support affected customers. PG&E advises customers to prepare for outages and stay updated via their website and outage information line.

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On June 14, 2024, The PG&E Foundation announced its fourth year of funding for the California Restaurant Foundation's Restaurants Care Resilience Fund. This year, they are contributing $900,000 to provide $5,000 grants to 154 restaurants and commercial caterers within PG&E's service area. The grants are intended to support vital business needs such as technology upgrades, employee training, and equipment purchases. In total, the fund will distribute $1.4 million to 278 restaurants statewide. Since its inception in 2021, the fund has awarded 1,325 grants. Applications for this year's grants open from June 15 to June 30.

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PG&E (NYSE: PCG) has announced an Investor Update meeting scheduled for June 12, 2024, at 5:00 p.m. Eastern Time. The meeting will be accessible via a public webcast, providing stakeholders with an opportunity to gain insights into the company's recent developments, financial performance, and future plans.

The event will last for 1.5 hours and will include presentations from key executives. A replay of the webcast will also be available for those unable to attend live.

For further inquiries, investors can contact PG&E's Investor Relations team.

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PG&E has announced a new initiative, 'Rule the Cool,' aimed at helping customers reduce energy consumption and save on summer energy bills. The program offers simple tips and tools, emphasizing the importance of keeping air conditioning systems efficient. Key strategies include setting thermostats to 78 degrees or higher, sealing leaks, and using ceiling fans. PG&E's Energy Efficiency DIY Tool Kit, priced at $200, can help customers save nearly $1,000 annually. Additionally, the Induction Cooktop Loaner Program and various energy incentive programs like Power Saver Rewards and SmartRate are highlighted. For income-eligible customers, financial assistance programs are available, including the California Alternate Rates for Energy, Family Electric Rate Assistance, and Low Income Energy Assistance Program.

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Pacific Gas and Electric Company (PG&E) has completed its Land Conservation Commitment (LCC), permanently protecting approximately 140,000 acres of watershed lands in California. This commitment, initiated 20 years ago, involves partnerships with various organizations, including private conservation groups and Native American tribes. PG&E has also launched pilot projects to enhance forest resilience and reduce wildfire risk. These projects span multiple counties and involve collaborations with local fire councils and conservation foundations. Additionally, PG&E introduced its first 100% renewable remote electric grid at Pepperwood Preserve to mitigate wildfire risks and support sustainable energy solutions.

The LCC includes significant land transfers, such as a 62-acre parcel to San Joaquin Office of Education and nearly 15,000 acres to CAL FIRE for forest research and public recreation. PG&E has also provided $30 million for youth investment and $70 million for land conservation funding. This initiative underscores PG&E's commitment to environmental sustainability and community welfare.

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Pacific Gas and Electric Company (PG&E) and the California Fire Foundation (CFF) are accepting applications for wildfire safety and preparedness grants from May 30 to June 30, 2024. This initiative is part of a seven-year partnership between PG&E and CFF. A total of $1.4 million will be awarded through these grants, aimed at raising public awareness about wildfire safety and providing resources to underserved communities in high fire-risk areas.

Last year, the program awarded $730,000 to 48 local fire departments and community groups. The funding supported the purchase of 2,800 pieces of personal protection equipment, hazardous tree and brush removal, and prescribed burns. Since 2018, the program has provided $8.8 million in total support, funding specialized fire equipment, defensible space programs, and multi-lingual fire safety outreach campaigns.

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Pacific Gas and Electric Company (PG&E) and the California Fire Foundation (CFF) have opened applications for the Wildfire Safety and Preparedness Program (WSPP) grants. Applications are accepted from May 30 to June 30, 2024. The program, funded with $1.4 million, targets California-based fire departments and community groups in high fire-risk areas. Last year, the program awarded $730,000 to 48 local entities, supporting the purchase of personal protective equipment, hazardous brush removal, and prescribed burns. Since 2018, PG&E and the PG&E Foundation have contributed $8.8 million to wildfire safety initiatives through the WSPP.

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Pacific Gas and Electric Company (PG&E) has issued a safety reminder for graduates celebrating with helium-filled metallic balloons. The company highlights the risk of power outages caused by balloons making contact with power lines. In the first four months of 2024, there have been 112 such incidents, affecting over 47,000 customers—a 30% increase from last year. PG&E advises securing balloons with weights and keeping them indoors when possible. They also remind the public never to retrieve balloons entangled in power lines and to report such issues immediately. Following these precautions can ensure safe celebrations.

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FAQ

What services does PG&E Corporation provide?

PG&E Corporation, through its subsidiary Pacific Gas and Electric Company, provides natural gas and electric services to customers in Northern and Central California.

How many customers does PG&E serve?

PG&E serves approximately 5.3 million electricity customers and 4.6 million gas customers in Northern and Central California.

What are some recent achievements of PG&E?

Recent achievements include the completion of the Land Conservation Commitment, the implementation of wildfire risk reduction projects, and the deployment of a 100% renewable remote electric grid at Pepperwood Preserve.

How did PG&E perform financially in the first quarter of 2024?

PG&E reported first-quarter 2024 income available for common shareholders of $732 million or $0.34 per share, with non-GAAP core earnings of $800 million or $0.37 per share.

What is PG&E Corporation’s approach to community support?

PG&E Corporation supports communities through significant charitable contributions, providing $25.6 million in 2023 to nearly 5,000 nonprofits and schools.

How does PG&E support environmental sustainability?

PG&E supports environmental sustainability through initiatives like the Land Conservation Commitment, wildfire risk reduction projects, and the deployment of renewable energy technologies.

What infrastructure does PG&E operate?

PG&E operates 18,000 miles of transmission lines, 107,000 miles of distribution lines, and 43,300 miles of natural gas distribution pipelines.

What energy sources does PG&E use for electricity generation?

PG&E uses a mix of energy sources, including nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources, for electricity generation.

How is PG&E addressing utility scams?

PG&E actively educates customers on recognizing and avoiding utility scams and collaborates with the Federal Trade Commission to enhance consumer protection.

Where can I find more information about PG&E?

For more information, visit PG&E Corporation’s website at www.pgecorp.com and Pacific Gas and Electric Company’s website at www.pge.com.

PG&E Corporation

NYSE:PCG

PCG Rankings

PCG Stock Data

47.38B
2.14B
3.34%
95.89%
1.4%
Other Electric Power Generation
Utilities
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United States of America
OAKLAND