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.
Pacific Gas and Electric Company has appointed David McCulloch as the new Vice President and Chief Marketing and Communications Officer, effective immediately. McCulloch brings 20 years of experience in corporate communications and marketing, previously working at companies including Hitachi and General Electric. His role will focus on enhancing communication with PG&E's 16 million customers in California, emphasizing the company's safety progress, energy efficiency programs, and climate goals.
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The holiday season increases energy use, prompting Pacific Gas and Electric Company (PG&E) to provide tips for saving energy this Thanksgiving. Customers can save up to 15% on bills by lowering thermostats to 68 degrees and using ceiling fans to circulate warm air. Additional recommendations include reducing water heater temperatures, covering windows, and using dimmer switches. PG&E offers personalized energy-saving assessments through their Home Energy Checkup and assistance programs like Budget Billing for cost management. These measures can help customers manage rising energy costs during the winter months.
Pacific Gas and Electric Company (PG&E) is joining Utilities United Against Scams to raise awareness about the increasing number of scams targeting utility customers. In 2022, PG&E received over 23,000 reports of scams, leading to nearly $1.3 million lost by customers. The company advises customers on how to identify potential scams, such as threats of immediate disconnection and requests for pre-paid card payments. PG&E emphasizes that it will never request sensitive information over the phone and encourages vigilance, especially during the holiday season.
Pacific Gas and Electric Company (NYSE:PCG) is actively addressing power outages caused by an ongoing storm system. Since Monday morning, they have successfully restored power to over 60,000 customers, with 96 percent restored in six hours or less. The company had preemptively activated its Emergency Operations Center and deployed more than 250 power restoration crews. Customers are encouraged to stay informed about outages via the company's website and sign up for outage notifications.
PG&E is prepared for potential storm-related outages across California as rain and snow approach. The company activated its Emergency Operations Center on November 6 and has positioned crews and equipment for rapid response. Vegetation management teams are working to prevent powerline interference. Adverse weather conditions are expected to peak, with warnings for hazardous conditions and thunderstorms. PG&E advises customers to prepare for outages with safety tips and resources available on its website.
Pacific Gas and Electric (PCG) announced an impending series of storms expected to bring rain and snow to Northern California, starting this weekend. The National Oceanic and Atmospheric Administration predicts colder and wetter conditions until November 15. In anticipation of potential outages, PG&E has developed a Storm Outage Prediction Model to effectively pre-stage crews. Customers are urged to follow safety guidelines, including avoiding downed wires and using flashlights during outages. PG&E remains committed to ensuring safety and preparedness for its customers during inclement weather.
Pacific Gas and Electric Company (PCG) supports California's new metallic balloon law signed by Governor Newsom. Effective January 1, 2027, only compliant metallic balloons that do not conduct electricity will be sold, aimed at enhancing safety for employees and customers. In 2021, metallic balloons caused over 600 outages, a 27% rise from the previous year. The new law could help reduce wildfire risks, as historically, metallic balloons have led to significant fires and disruptions. PG&E urges the public to follow safety tips regarding metallic balloons.
Pacific Gas and Electric Company (PG&E) is urging customers to schedule free in-home safety inspections for their gas appliances as colder weather approaches. The inspections ensure safe and efficient operation of appliances like water heaters and furnaces, helping to prevent carbon monoxide poisoning. With around 430 deaths and 50,000 hospitalizations from carbon monoxide poisoning annually in the U.S., PG&E emphasizes the importance of these checks. Customers can call 1-800-743-5000 to schedule an inspection and are reminded to install carbon monoxide detectors in their homes.
PG&E Corporation (NYSE: PCG) reported significant recovery in Q3 2022, achieving GAAP earnings of $0.21 per diluted share compared to losses of $(0.55) in Q3 2021. Non-GAAP core earnings increased to $0.29 per diluted share, up from $0.24 year-over-year. For the first nine months, GAAP earnings were $0.60, reversing losses from $(0.29) in the same period of 2021. The company updated its 2022 GAAP guidance to $0.80 to $1.01 per share and initiated 2023 guidance at $0.98 to $1.21. PG&E forecasts no equity needs through 2024, suggesting financial stability going forward.