PG&E Statement on Senate Bill 492

PG&E (NYSE:PCG) issued a statement on California’s Senate Bill 492, amended by the Legislature to address the state’s wildfire risk reduction and recovery framework.

Rhea-AI Summary

PG&E (NYSE:PCG) issued a statement on California’s Senate Bill 492, amended by the Legislature to address the state’s wildfire risk reduction and recovery framework. According to PG&E, the bill offers some improvement for wildfire survivor recovery and preparedness but does not adequately resolve financing risks from the current wildfire liability framework, which the company says is needed to ensure long-term investment in a safer, reliable and affordable energy system.

Argus Aug 31 session 88 alerts

-20.00% close to close 2176.7x rel. volume Open Argus

Details

News Market Reaction – PCG

-17.5% Trough in 5 hr 21 min

$35.02B Mkt Cap at Peak Alert

On Aug 31, the first trading day after this news, PCG closed 20.00% below the previous close. Argus tracked a trough of -17.5% from its starting point during tracking. Our momentum scanner recorded 88 alerts for this stock that day. Relative volume reached 2176.7x the daily average during tracking.

Data tracked by StockTitan Argus for the Aug 31 session.

Key Figures

Statement Date: Aug. 30, 2026 Bill Identifier: SB 492

Statement Date

Aug. 30, 2026

PG&E statement release

Bill Identifier

SB 492

California Legislature wildfire risk reduction and recovery framework

Historical Context

5 past events · Latest: Aug 24

5 events

1. Aug 24

   V2X program expansion

   24h Move

   +2.8%

   Expanded vehicle-to-grid access with customer incentives and additional vehicle and charger partners.

2. Aug 10

   811 safety campaign

   24h Move

   -2.4%

   Promoted damage prevention for underground utility lines through expanded customer awareness.

3. Jul 31

   Cash tender results

   24h Move

   +0.3%

   Completed cash tender offers for senior notes and first mortgage bonds.

4. Jul 31

   Tender offer pricing

   24h Move

   +0.3%

   Priced debt repurchases with an aggregate purchase-price cap and specified tender consideration.

5. Jul 29

   Heat preparedness

   24h Move

   +0.4%

   Prepared electric systems, crews, equipment, and emergency services for elevated wildfire conditions.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

OAKLAND, Calif., Aug. 30, 2026 /PRNewswire/ -- Pacific Gas and Electric Company (PG&E) today released a statement on Senate Bill 492.

"On Saturday, the California Legislature amended Senate Bill 492 to address the state's wildfire risk reduction and recovery framework.

While the proposed legislation would make some progress in helping wildfire survivors recover and strengthening wildfire preparedness, it would not provide the sustainable solution California needs.

Specifically, the bill does not adequately address the financing risks created by California's current wildfire liability framework. As a result, it falls short of creating the long-term durability needed to attract affordable investment to support a safer, more reliable energy system and help keep costs down for customers.

The California Earthquake Authority's April report found, among other conclusions, that existing funding mechanisms are not sufficient. PG&E believes that SB 492 does not adequately address these concerns.

California still needs a durable solution that supports wildfire survivors, maintains strong safety incentives, reduces wildfire risk, and enables the affordable investment needed to serve customers and communities safely and reliably."

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news  

View original content to download multimedia:https://www.prnewswire.com/news-releases/pge-statement-on-senate-bill-492-302864453.html

SOURCE Pacific Gas and Electric Company

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is PG&E's position on California Senate Bill 492 as of August 30, 2026 (PCG)?

PG&E says Senate Bill 492 makes some progress on wildfire recovery and preparedness but remains insufficient. According to PG&E, the bill does not adequately address financing risks under California’s wildfire liability framework, limiting long-term durability for needed investment in a safer, more reliable, and affordable energy system.

How does Senate Bill 492 affect wildfire survivors according to PG&E (PCG)?

PG&E states that Senate Bill 492 would make some progress in helping wildfire survivors recover. According to PG&E, despite this improvement, the bill still fails to create a sustainable, durable funding solution that fully supports survivors while also enabling affordable investment in the state’s energy system.

Why does PG&E say Senate Bill 492 does not provide a durable wildfire solution for California (PCG)?

PG&E believes Senate Bill 492 does not adequately address financing risks created by California’s current wildfire liability framework. According to PG&E, this shortfall prevents the long-term durability needed to attract affordable investment that supports a safer, more reliable grid and helps keep customer costs down.

What role does the California Earthquake Authority report play in PG&E’s view of SB 492 (PCG)?

PG&E cites the California Earthquake Authority’s April report, which concluded existing funding mechanisms are not sufficient. According to PG&E, Senate Bill 492 does not adequately address these funding concerns, leaving key issues unresolved in California’s wildfire risk reduction and recovery framework.

What kind of wildfire solution does PG&E say California still needs beyond SB 492 (PCG)?

PG&E says California still needs a durable solution that supports wildfire survivors, maintains strong safety incentives, and reduces wildfire risk. According to PG&E, it must also enable affordable investment so utilities can serve customers and communities safely and reliably over the long term.

Does PG&E think Senate Bill 492 will keep energy costs down for customers (PCG)?

PG&E warns that Senate Bill 492 falls short of creating conditions needed for affordable investment. According to PG&E, by not fully addressing financing risks, the bill limits the ability to support a safer, more reliable energy system that helps keep costs down for customers.