New 52 week high @ $17.01
I believe you were correct. Just closed at 52 week high of 16.75 plus up to 16.76 after hours.
PG&Es corporate bonds take a lashing as Dixie Fire rages
Wildfire Linked to PG&E Ravages California Gold-Rush Town
We lost Greenville: Wildfire devastates historic California town
PG&E says its equipment have have sparked blaze that merged with bigger wildfire
...No causes have yet been identified for any of the unprecedented wildfires, which continue to be the subject of ongoing investigations.
However, California is one of the only states in the country in which courts have applied inverse condemnation to events caused by utility equipment. This means that if a utility’s equipment is found to have been a substantial cause of the damage in an event such as a wildfire – even if the utility has followed established inspection and safety rules – the utility may still be liable for property damages and attorneys’ fees associated with that event.
“After extensive consideration and in light of the uncertainty associated with the causes and potential liabilities associated with these wildfires as well as state policy uncertainties, the PG&E boards determined that suspending the common and preferred stock dividends is prudent with respect to cash conservation and is in the best long-term interests of the companies, our customers and our shareholders,” said PG&E Corporation Chair of the Board Richard C. Kelly.
New CEO from Chicago= Obama=Biden= infrastructure bill. I just wonder that is what she meant. When she said they had been working on it for a few months. Is it possible she already has the money/grantees from the Gov. I wonder. Guess we will have to wait for more news announcements
Interesting article on PCG:
PCG just admitted that 70% of their Natural Gas Storage is not even useable... That's only 50 BILLION Cubic Feet... I'm glad I don't live in California - because electrical blackouts are soon to come...
Normally, they cover up their lack of Natural Gas to convert into electricity via wildfires... Looks like they are going to try a new approach this year, haha...
PG&E Continues to Bolster Senior Leadership Team, Appoints Marlene Santos as Executive Vice President and Chief Customer Offi...
February 23 2021 - 09:12AM
Ms. Santos Brings Almost Four Decades of Experience and Industry-Recognized Performance in Customer Service, Operations and Integration
Pacific Gas and Electric Company (PG&E) today announced the appointment of Marlene Santos as Executive Vice President and Chief Customer Officer effective March 15, 2021. Ms. Santos will be responsible for a broad range of services and teams that support the more than 16 million people that PG&E serves in Northern and Central California. This includes PG&E’s customer contact centers; programs supporting energy efficiency, electric vehicles, rooftop solar, demand response and low-income customers; billing, metering and account services; marketing and communications; and Regional Leadership Teams that PG&E will form as part of its regionalization efforts. She will report to Patti Poppe, PG&E Corporation’s Chief Executive Officer.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210223005740/en/
“I truly believe that every decision we make at PG&E must begin with our customers at the forefront. I am excited to have Marlene join our team and bring her deep experience in delivering outstanding, industry-recognized customer service that is known for its innovation and customer centricity. She brings both her keen skillset and her caring heart to our work. I know our entire team will look forward to working with Marlene as we strive to deliver better experiences and outcomes for the customers we are privileged to serve,” said Ms. Poppe.
For the past two years, Ms. Santos served as President of Gulf Power Company, a subsidiary of NextEra Energy, Inc. (NextEra). Prior to that, she served as NextEra’s Chief Integration Officer for the company’s acquisition of Gulf Power and two other acquisitions. During her nearly 40-year career with NextEra, she served in several other senior operational and leadership roles including Vice President, Customer Service for Florida Power & Light Company (FPL). Ms. Santos brings a wide breadth of experience including delivering best-in-class customer service, safety improvements, digital transformation, smart grid enablement, data analytics and artificial intelligence deployment, cultural transformation, and emergency response to natural disasters.
“I am honored to join Patti and the PG&E team. California and its customers are on the cutting edge of innovation and clean energy, and PG&E’s customer service approach must reflect those guiding principles. I know our 25,000 coworkers are engaged and working hard every day to deliver safe, reliable, affordable and clean energy to the homes and businesses of Northern and Central California. I look forward to listening to and understanding our customers’ needs so that we can continuously improve our customers’ experience in the years ahead,” said Ms. Santos.
In her two years as President of Gulf Power Company, Ms. Santos led the work that has improved safety by over 90%, reduced operating costs by almost 30%, reduced carbon dioxide emissions by nearly 20%, and improved reliability by 50%.
Ms. Santos joined FPL in 1981 and served in positions of increasing responsibility in the areas of finance, marketing and customer service. Under her leadership, FPL was consistently recognized for providing outstanding customer service, including the J.D. Power Award for ranking highest in residential customer satisfaction among large utilities in the South. FPL also was named a “Utility Customer Champion” for outstanding performance among the nation’s leading utilities by Market Strategies International in both 2016 and 2015; and received the prestigious ServiceOne Award for excellent customer service among utilities in the United States and Canada for an unprecedented 10 consecutive years.
Ms. Santos graduated summa cum laude from the University of Miami with both a bachelor’s degree in finance and a master’s degree in business administration. Her committee service has included the Edison Electric Institute (EEI) and the Women in Energy Forum.
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 www.pge.com and www.pge.com/news.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210223005740/en/
In less than 3 months from now, pcg will be trading in $13 or more, gses will be trading higher than $60.
If there's settlement including damages, ....super nova.
If we can compare between warrants to stimulus Package (first, second) in dollar value, which one is larger.
Why would government spent trillions and trillions on first and second stimulus Package while on the other hand , government want to grab warrants?
I am here for a long ride. I expect dividend for common shares to be reinstated maybe in 1 year from now.
QUOTE "The California State Teachers’ Retirement System more than doubled its investment in PG&E (ticker: PCG) stock in the third quarter"
On this QUOTE, it missed the word BET or INVEST
The California State Teachers’ Retirement System bet more than doubled its investment in PG&E (ticker: PCG) stock in the third quarter
They think like me.
Fnma and fmcc are called twins for short name.
Dec. 9 2020 , supreme court is expected to ruling against government.
Between pcg and fnma, pcg takes along time further to progress. While fnma takes days to progress. Make your own dd
I've been watching PCG for the past few months, Actually, I bought some shares in the high 8's and mid-9's. Trying to decide whether or not to add more. I certainly believe there's a lot better chance of PCG going to 25+ than down to 5. It got itself out of huge jam and the future seems a lot brighter now.
Gse's stand for government sponsored enterprises .
Fnma and fmcc are the gses. These two twins are expected to release back nyse soon due to government are losing battle in supreme courts.
Go to fnma and observe all the conversations between posters and you will get more info
Can you please elaborate? And, what is "gses"?
Once and if gses are exited from conservatorship then I will buy much more.
Here is the reason why pcg didn't plummet to $0 or get cancel.
I should have bought at around $9.00
But I need to witness to see the progress on earning report.
I watched months after months.
Pcg was above $70 before bk.
BREAKING NEWS: $PCG PG&E Corporation Appoints Patricia K. Poppe as Chief Executive Officer, Effective January 4, 2021
Ms. Poppe Brings Deep Industry Knowledge; Decades of Operational, Safety and Leadership Experience; and a Demonstrated Commitment to Clean Energy PG&E Corporation (NYSE: PCG) today announced the appointment of Patricia K. “Patti” Poppe as Chief Executive Of...
Read the whole news PCG - PG&E Corporation Appoints Patricia K. Poppe as Chief Executive Officer, Effective January 4, 2021
PG&E Corp. Reports Third-Quarter 2020 Financial Results, & 2020 & 2021 GAAP & Non-GAAP Core Earnings & EPS Guidance
October 29 2020 - 08:19AM
Tweet Share On Facebook
Recorded GAAP earnings were $0.04 per share for the third quarter of 2020, compared to losses of $3.06 per share for the same period in 2019.
Non-GAAP core earnings were $0.22 per share for the third quarter of 2020, compared to $1.11 per share for the same period in 2019.
2020 EPS guidance adjusted for GAAP losses in the range of $1.00 to $1.06 and reaffirmed for non-GAAP core earnings of $1.60 to $1.63 per share.
2021 EPS guidance adjusted for GAAP earnings in the range of $0.14 to $0.26 and reaffirmed non-GAAP core earnings of $0.95 to $1.05 per share.
PG&E Corporation (NYSE: PCG) recorded third-quarter 2020 income available for common shareholders of $83 million, or $0.04 per share, as reported in accordance with generally accepted accounting principles (GAAP). This compares with losses attributable to common shareholders of $1.6 billion, or $3.06 per share, for the third quarter of 2019.
GAAP results include non-core items that management does not consider representative of ongoing earnings, which totaled $378 million after-tax, or $0.18 per share, for the quarter. These results were primarily driven by costs related to PG&E Corporation’s and Pacific Gas and Electric Company’s (Utility) reorganization cases under Chapter 11 of the U.S. Bankruptcy Code (Chapter 11). Other non-core items include the amortization of wildfire insurance fund contributions under Assembly Bill (AB) 1054, investigation remedies and delayed cost recovery, Kincade-fire related costs, and prior period net regulatory recoveries.
PG&E Corporation and Pacific Gas and Electric Company emerged from Chapter 11 on July 1, 2020 after successfully completing the restructuring process and achieving approval for its Plan of Reorganization confirmed by the United States Bankruptcy Court.
“We are focused on building a new PG&E that will deliver on our commitments to operate safely, reduce risk, and put our customers at the center of everything we do,” said Bill Smith, Interim Chief Executive Officer, PG&E Corporation. “Given the many challenges facing California, from wildfires to COVID-19, we know that being a trustworthy partner is more important than ever. We will do that by continuing our important wildfire mitigation work, leveraging innovative technologies to help California meet its clean energy goals, and achieving our performance targets in all areas of our business.”
Wildfire Mitigation Update
To further reduce the potential for wildfires associated with its electrical equipment in high fire-threat areas, PG&E is executing its 2020 Wildfire Mitigation Plan as submitted to the CPUC on February 7, 2020. The company is on track to meet its goals for each of the four categories of the 2020 Plan, which builds on the significant work completed in 2019. Wildfire Mitigation work during 2020 includes:
System hardening, where we have exceeded our 2020 target, with 257 circuit miles either relocated underground or replaced with stronger poles and covered conductor, making PG&E’s system more resilient.
Enhanced vegetation management work, which is at 90% of our 2020 target. PG&E has reviewed more than 1,624 miles of distribution and lower-voltage transmission lines and taken necessary action to trim or remove hazards and expand rights-of-way.
Situational awareness work, which is at 65% of our 2020 target, with 309 weather stations and 132 high definition cameras installed, despite some initial supply chain issues due to COVID-19 disruptions.
Enhanced inspections are at more than 96% of our 2020 target. PG&E continues to inspect all assets in Tier Three miles and a third of the Tier Two miles annually, which gives greater insight into the health of the company’s assets and information to act on for equipment requiring maintenance.
Improved PSPS implementation. For two of the three events for which an analysis is available, PG&E’s data shows that the number of customers affected was reduced by 56% when compared to the same set of conditions in 2019. For all three, service was restored for 94% of customers within 12 hours.
In addition, PG&E filed an application with the CPUC for approval to sell its San Francisco office complex. This fulfills the first step of its commitment set out in the Plan of Reorganization to sell its San Francisco office complex and to distribute the gain on sale to customers.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201029005679/en/
Pacific Gas & Electric Co
U.S. Bankruptcy Court
Northern District of California (San Francisco)
Bankruptcy Petition #: 19-30088
Prime Clerk is the Bankruptcy Case Administrator.