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 (PG&E) is expanding its remote grid program by deploying four new Standalone Power Systems (SPS) in 2022, with plans to increase to over 30 systems by 2026. These SPS units will replace 4.5 miles of overhead power lines, enhancing electric reliability while significantly reducing wildfire risk and associated costs. The new systems will utilize the Stellar Microgrid OS™ for remote monitoring. PG&E aims to provide more reliable energy in high-risk fire areas, following a successful model established in Briceburg, California.
Pacific Gas and Electric Company observes National 811 Day on August 11, encouraging safe digging practices. Customers and contractors are urged to call 811 at least two business days prior to digging to mark underground utility lines, helping prevent injuries and costly repairs. In 2022, there were 737 incidents of damaged utility lines, with 54% occurring when 811 was not called. The average repair cost is $3,500. The company emphasizes the importance of this precaution for safety and cost efficiency.
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PG&E warns customers of a surge in scams involving impostors demanding immediate payment for utility meter deposits to prevent disconnection. Customers received over 7,200 scam reports in 2022, significantly up from 11,000 in 2021, with losses exceeding $600,000. The company advises individuals to identify scam signs, such as demands for prepaid card payments and threats of immediate disconnection. PG&E emphasizes it does not request personal financial information over the phone or email. Customers should verify claims by contacting PG&E directly.
PG&E encourages energy-saving habits as students return to school, promoting small adjustments to reduce energy consumption at home. Key recommendations include setting thermostats at 78 degrees or higher to save 4-8% on cooling costs per degree, using refrigerators wisely by minimizing door openings, and unplugging unused devices. The initiative aims to instill lifelong energy-saving behaviors among families. For educational support, PG&E offers the 'Energy is Everything' program, providing free curriculum resources for K-12 educators across California.
Knightscope, Inc. (NASDAQ:KSCP) has expanded its partnership with Pacific Gas and Electric Company (NYSE:PCG), adding five more K5 Autonomous Security Robots (ASRs) to their contract, bringing the total to ten. This follows a successful pilot test in 2021 that demonstrated cost reductions and enhanced security operations. Knightscope's robots operate continuously and are positioned as a cost-effective solution amidst challenges in filling traditional security roles. The company aims to enhance safety across PG&E's numerous locations.
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PG&E Corporation (NYSE: PCG) reported second-quarter 2022 GAAP earnings of $0.17 per diluted share, down from $0.18 in Q2 2021. Non-GAAP core earnings also decreased to $0.25 from $0.27. For the first half of 2022, GAAP earnings improved to $0.39 per share, while non-GAAP core earnings rose to $0.55. The company adjusted 2022 GAAP EPS guidance to a range of $0.74 to $1.02 and reaffirmed non-GAAP core earnings guidance at $1.07 to $1.13. Despite wildfire-related challenges, PG&E remains focused on risk reduction and strategic investments.
Duquesne Light Company (DLC) announced a collaboration with ComEd and Pacific Gas and Electric (PG&E) to enhance underground electrical infrastructure through the "Monitoring Electrical Cable Challenge." The initiative, with a prize pool of $750,000, aims to improve safety and reliability of underground networks in Pittsburgh. The partners will guide challenge finalists and evaluate results to strengthen the electrical grid. The final solutions will be tested, with a pilot deployment expected in early 2023. The challenge seeks innovative solutions to maintain critical infrastructure.
Pacific Gas and Electric Company (NYSE: PCG) has announced that customers and non-account holders can sign up for Public Safety Power Shutoff (PSPS) alerts for any address.
To continue receiving notifications, those who signed up before June 2022 need to re-enroll by June 2023. This service is available in multiple languages and is intended for anyone concerned about PSPS impacts on their locations.
PG&E emphasizes planning for outages and provides resources for emergency preparedness.