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PG&E - CPUC Settlement Proposes Utility's 2019 Revenue Requirement Of $8.5 Bln Be Risen To $9.1 Bln
Pg&E Says On Dec 19, Cpuc Approved Revised Proposed Decision, Maintaining Utility’S Roe For 3-Year Period Beginning Jan 1, 2020 At 10.25%
Pg&E Corporation And Utility Expect To Record Charges Of About $340 Mln In 2019 & $70 Mln In 2020 Related To Capex
Pacific Gas and Electric Company is engaged in the sale and delivery of electricity and natural gas. The Company generates electricity and provides electricity transmission, and distribution services across northern and central California. The Company offers its services to residential, commercial, industrial and agricultural customers. It provides bundled services, which include electricity, transmission and distribution services. Its hydroelectric system consists of approximately 110 generating units at over 70 powerhouses. It provides natural gas transportation services to small commercial and residential customers, as well as to industrial, commercial and natural gas-fired electric generation facilities that are connected to the Company's gas system in its service territory. It provides gas delivery, metering and billing services to customers. Its bundled natural gas service includes both transportation and procurement services. The Company is the subsidiary of PG&E Corporation.
77 Beale St,
P O Box 770000
Jeffrey L. Bleich
Independent Non-Executive Chairman of the Board
James M. Welsch
Principal Executive Officer
David S. Thomason
Chief Financial Officer, Vice President, Controller
John R. Simon
Executive Vice President - Corporate Services and Human Resources
Senior Vice President, Chief Information Officer
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About 50,000 homes and businesses across Northern California were without power on Wednesday during the latest planned outage instituted by utility Pacific Gas & Electric Co to guard against risk of wildfire during dry, windy weather.
About 180,000 customers in California could find themselves in the dark as Pacific Gas & Electric warned that an upcoming "strong offshore wind event" could prompt the bankrupt power producer to yet again shut off power in some areas.
California Governor Gavin Newsom said he will convene a meeting of Pacific Gas and Electric Co executives, shareholders, wildfire victims, and PG&E's other creditors in Sacramento next week to speed up the resolution of the bankruptcy case that creates a new entity.
Thousands of homes and businesses in California were in the dark on Wednesday as Pacific Gas & Electric <PCG.N> turned off power in parts of 15 counties as a preventive measure against wildfires.
People in more than 180,000 homes and businesses in California could find themselves in the dark as Pacific Gas & Electric again plans to shut off power in parts of 17 counties for up to two days, as a preventive measure against wildfires.
Northern Californians can expect widespread power cuts aimed at preventing wildfires for a decade while Pacific Gas & Electric upgrades wires systems, cuts back trees and takes other safety measures, the utility's chief executive said on Friday.
California Governor Gavin Newsom said on Monday that Pacific Gas and Electric Co (PG&E) should be held accountable for mismanaging last week's power shutoffs and urged the company to provide credits or rebates to affected customers.
Electricity was shut off to nearly 750,000 California homes and workplaces on Wednesday as Pacific Gas and Electric Co (PG&E) imposed a string of planned power outages of unprecedented scale to reduce wildfire risks posed by extremely windy, dry weather.
Hundreds of thousands of California homes and businesses started to lose electric power early Wednesday as part of an unprecedented effort by Pacific Gas and Electric Co. to prevent wildfires, the utility said.
Utility PG&E Corp proactively shut off power on Saturday to around 1,600 customers in northern California and said it might expand the shutdown to tens of thousands more due to an increased risk of wildfires.
State fire investigators have formally determined that Pacific Gas & Electric Co transmission lines caused the deadliest and most destructive wildfire on record in California, a blaze that killed 85 people last year, officials said on Wednesday.
An investigation into fierce wildfires that swept Northern California's wine country in 2017, killing 46 people, found no basis to criminally charge PG&E, the utility whose power lines helped spark the conflagration, prosecutors said on Monday.
* CALPINE CORPORATION - CURRENTLY HAVE SEVERAL POWER PLANTS THAT PROVIDE ENERGY AND ENERGY-RELATED PRODUCTS TO PG&E UNDER PPAS
The California utility may face up to $30 bln in wildfire costs. But shareholders see value and lenders were willing to stump up cash. The board’s desire to cut other expenses may have driven the decision. Plus: How U.S. charges against Huawei may affect the telco industry.
California's power grid operator said on Tuesday the bankruptcy filing by PG&E Corp and its Pacific Gas and Electric Co utility, the biggest U.S. power company, has not had any effect on the state's power grid and energy markets.
S&P cut its rating on PG&E Corp's Pacific Gas & Electric Co unit on Wednesday, making it the third such cut this month, after the unit missed interest payments on its 2040 senior notes.
PG&E Corp's shares and bonds fell sharply for a second day on Tuesday, as a failure to make interest payments by the California power utility added to investor nerves following the company's plans to seek Chapter 11 bankruptcy protection.
Shares in California power company PG&E fell sharply for a second day on Tuesday as investors took fright at the prospect of bankruptcy proceedings to protect from $30 billion in potential liabilities related to wildfires in 2017 and 2018.
A U.S. judge on Wednesday proposed restricting utility PG&E Corp from using power lines deemed to be unsafe during high winds in the 2019 California fire season, adding another complication for the California utility as it faces billions of dollars in wildfire liabilities.
A U.S. judge on Wednesday issued a proposed order to restrict utility PG&E from using power lines deemed to be unsafe during high winds in the 2019 California fire season, according to a court filing.
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