Pacific Gas and Electric Company PFD 1ST 4.36%
PCG-PI
New York Stock Exchange American16.40
USD
-0.20
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Pacific Gas and Electric Company PFD 1ST 4.36%
PCG-PI
(New York Stock Exchange American)
Recent
price
16.40
P/E
ratio
- -
div
yld
- -
ROIC.AI
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- Business
- Pacific Gas and Electric Company, incorporated in California in 1905 and headquartered in Oakland, operates as one of the largest combined natural gas and electric utilities in the United States; the company, a subsidiary of PG&E Corporation, provides natural gas and electric service to approximately 16 million people across a 70,000-square-mile service area in northern and central California, serving 5.2 million electric accounts and 4.5 million gas accounts spanning residential, commercial, industrial, agricultural, and public sector customers. Pacific Gas and Electric Company generates, transmits, distributes, and sells electricity from renewable sources including hydroelectric, solar, and fuel cell facilities; nuclear power via the Diablo Canyon Power Plant; and fossil fuel-fired plants; it also purchases, transports, and distributes natural gas to core customers such as residential and small commercial users as well as non-core customers including large industrial, commercial, and natural gas-fired electric generation facilities. The company's infrastructure encompasses 174 hydroelectric dams and 68 powerhouses with 3,896 megawatts capacity; over 18,000 miles of transmission lines; 101,000 miles of distribution lines; and 40,000 miles of gas distribution pipelines plus 6,000 miles of transportation pipelines; regulated by the California Public Utilities Commission, it employs about 28,000 people and focuses on grid modernization, wildfire mitigation through powerline undergrounding and vegetation management, renewable energy expansion, and energy efficiency programs including rebates and backup power incentives. In recent developments, Pacific Gas and Electric Company entered exclusive negotiations with KKR in April 2024 for the sale of a minority stake in Pacific Generation LLC, a new subsidiary to hold its non-nuclear generation assets, aiming to fund clean energy investments and lower rates; launched a transmission lease program with nonprofit Citizens Energy Corporation for up to $1 billion in high-voltage projects; secured a $15 billion low-interest U.S. Department of Energy loan in December 2024 to modernize hydroelectric facilities, upgrade transmission for renewables, data centers, and electric vehicles, and enable virtual power plants; plans $73 billion in capital expenditures by 2030 for transmission infrastructure amid rising demand; and seeks CPUC approval for multi-billion-dollar rate increases totaling up to $6.3 billion for 2025-2026 energization work to connect new customers.