PG&E Us Stock Price, News & Analysis

Pacific Gas and Electric Company (PCG, PCG.PRA) reported a 27% increase in balloon-related outages in 2021, totaling over 600 incidents. This marks the highest number of outages in a decade, which can disrupt electric service and pose safety risks. As Valentine's Day approaches, PG&E advises customers to securely tie metallic balloons and avoid releasing them outdoors to prevent these outages. The cities most affected include San Jose, Fresno, Bakersfield, Oakland, Richmond, and Stockton.

Pacific Gas and Electric Company (NYSE:PCG) reported record levels of renewable energy provided to its customers in 2021. Notably, 50% of their electricity came from renewable sources, with a total of 93% being greenhouse gas-free. The company is committed to California's renewable energy goals and aims to meet the state's requirement of 60% renewable energy by 2030. Large-scale solar accounts for 54% of their renewable mix, supported by over 6,500 MW of power contracts. Additionally, PG&E is investing heavily in battery storage, with over 3,300 MW planned by 2024.

PG&E Corporation (NYSE: PCG) reported a GAAP loss of $0.05 per share for 2021, an improvement from a loss of $1.05 in 2020. The fourth-quarter earnings were $0.22 per share, compared to $0.09 in the previous year. Non-GAAP core earnings for 2021 were $1.08 per share, down from $1.61. The company initiated 2022 EPS guidance of $0.89 to $1.23 for GAAP earnings. A total of $59.1 million in preferred dividends will be paid on May 13, 2022. PG&E completed vegetation management on 1,983 miles, exceeding its goal by 10%. A conference call is scheduled for February 10, 2022.

As winter approaches, natural gas usage rises, accounting for over 70% of household energy consumption due to heating systems, water heaters, and washers/dryers. PG&E advises customers on ways to manage escalating energy bills caused by increased consumption and natural gas price spikes. Key tips include enhancing furnace efficiency, improving duct performance, lowering water heater temperatures, washing clothes in cold water, and not over-drying clothes. Usage and bills are projected to decrease as temperatures rise in March and April.

Pacific Gas and Electric Company (PG&E) has rebranded its Wildfire Safety Operations Center (WSOC) to the Hazard Awareness & Warning Center (HAWC) to enhance its capability in monitoring various natural disasters, including earthquakes and flooding, alongside wildfires. This transition reflects PG&E's commitment to safety and proactive disaster management. The HAWC utilizes advanced technology, such as AI and machine learning, through over 500 cameras and 1,300 weather stations to ensure quick response and efficient communication during emergencies. The center plays a vital role in PG&E's Community Wildfire Safety Program.

Pacific Gas and Electric Company (PCG) is offering landowners free removal of large-diameter wood from trees cut down during its 2021 wildfire response. This initiative, responding to community feedback, allows landowners to opt-in for the removal of debris deemed hazardous. The program extends to trees removed due to safety concerns from various wildfires, including the Dixie, Caldor, and Anderson Fires. PG&E is contacting affected landowners to facilitate the process, emphasizing that permission is required for wood removal.

Pacific Gas and Electric Company (NYSE:PCG) plans to add nine new battery energy storage projects totaling approximately 1,600 MW to enhance California's renewable energy integration. If approved by the California Public Utilities Commission, this will increase PG&E's total storage capacity to over 3,330 MW by 2024. The projects aim to support California’s greenhouse gas reduction policies and replace retiring natural gas generation. The first projects are expected to come online as early as August 2023, contributing to grid reliability and cleaner energy delivery.

Pacific Gas and Electric Company (PCG) warns customers of rising energy costs this winter due to a 90% increase in natural gas prices compared to last year. The utility emphasizes that it passes these costs to customers without markup. To mitigate these expenses, PG&E encourages customers to adopt energy-saving practices, such as lowering thermostats and using programmable thermostats. The company also offers payment assistance programs, including the Arrearage Management Plan, which can forgive up to $8,000 in unpaid balances for qualifying customers.