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.
PG&E Recovery Funding has issued $860 million in green bonds to finance improvements in its electric system, emphasizing environmental benefits and customer savings. The bonds, certified as green by S&P Global Ratings, will help reduce costs for customers by an estimated $450 million through lower securitization costs compared to traditional financing. These investments support the Community Wildfire Safety Program and aim to protect California's forests against extreme weather, thereby reinforcing the company's commitment to sustainability and safety.
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Pacific Gas and Electric (PCG) is raising awareness about the increasing threat of utility scams during Utility Scam Awareness Week (November 14-20, 2021). Reports indicate a 65% rise in scam attempts targeting utility customers in September and October. PG&E urges customers to stay vigilant against scammers who often use tactics like demanding immediate payment or impersonating trusted service numbers.
UUAS and PG&E are collaborating to educate customers on the signs of scams and provide tips for protection, reinforcing that PG&E will never request payment through insecure methods.
Pacific Gas and Electric Company (PCG) has completed its goal of installing over 1,300 weather stations, enhancing its capability to monitor severe weather across Northern California. Achieved two months ahead of schedule, this network, established since 2018, provides crucial real-time meteorological data such as temperature and humidity. This initiative supports the company's operational planning and wildfire management efforts, benefiting both PG&E and local communities.
Pacific Gas and Electric Company (NYSE:PCG) provides energy saving and safety tips as daylight saving time ends and the rainy season begins in Northern and Central California. As clocks fall back, drivers are reminded to adjust for earlier sunsets and potential glare. PG&E advises preparing for rain with flashlights, charged devices, and securing outdoor items. Customers are encouraged to report power outages and follow safety protocols, especially regarding downed lines. PG&E serves over 16 million people across 70,000 square miles.
With winter approaching, PG&E emphasizes the importance of carbon monoxide safety. Annually, over 430 deaths and around 50,000 hospitalizations occur in the U.S. due to carbon monoxide poisoning, making proper home heating and functioning detectors crucial. Residents are urged to install detectors on every floor, test them biannually, and replace batteries as needed. Additionally, safety tips include avoiding the use of hazardous appliances indoors and ensuring proper ventilation for gas appliances. PG&E serves over 16 million people in Northern and Central California.
PG&E Corporation (NYSE: PCG) reported a significant GAAP loss of $1,091 million, or $0.55 per share, for Q3 2021, contrasting with a profit of $83 million, or $0.04 per share, in Q3 2020. Non-GAAP core earnings improved to $0.24 per share from $0.22 year-over-year. The company adjusted its 2021 GAAP guidance to between $(0.12) and $0.07 per share but reaffirmed non-GAAP core earnings guidance at $0.95 to $1.05 per share. Factors affecting earnings include Chapter 11 reorganization costs and wildfire-related expenses.
Pacific Gas and Electric Company (PG&E) has proposed a significant expansion of electric vehicle (EV) charging infrastructure in Northern and Central California, aiming to install about 16,000 new charging ports. If approved by the California Public Utilities Commission (CPUC), this initiative is intended to enhance customer EV adoption and support California's climate goals. Key elements include incentives for multifamily housing and public charging at accessible locations. PG&E has already installed 4,827 Level 2 charging ports, representing 18% of the state's total.
Pacific Gas and Electric Company (NYSE:PCG) has restored power to approximately 851,000 customers, over 99% of those affected by a historic storm that hit California. The storm, which began on Oct. 24, caused significant damage, with crews identifying 1,600 locations of damaged infrastructure, including over 800 powerline spans and 200 poles needing replacement. At the peak, more than 3,000 workers were involved in restoration efforts. PG&E expresses gratitude for customer patience during this challenging time.
PG&E is responding to a severe atmospheric river storm that impacted Northern and Central California, causing power outages for approximately 630,000 customers, about 10% of its 5.5 million electric customers. As of Monday evening, power was restored to 580,000 customers, leaving roughly 50,000 still affected. PG&E has deployed 3,000 personnel and is utilizing mutual aid from other utility companies. Record-breaking rainfall was reported, with some areas receiving over 17 inches, prompting ongoing safety measures and customer communications.