PG&E Sees ‘Underutilized' Grid Ready for Surge in Power Demand [BNN Bloomberg (Canada)]
Pacific Gas & Electric Co. (PCG)
Last pacific gas & electric co. earnings: 5/1 08:21 am
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Source: BNN Bloomberg
The company sees demand doubling by 2040, driven by artificial intelligence, data centers, electric vehicles and other efforts to electrify more of the economy. To meet that demand, Poppi anticipates utilization rates on PG&E's grid to climb to as much as 80%, from current levels of about 45%. While there will be “some new generation,” Poppi said better use of existing assets will be key to delivering more power without driving up costs. “Our grid today is underutilized,” Poppi said Friday in an interview on Bloomberg Television. “We built the grid big years ago, and now we get to utilize it.” The company is also taking steps to prepare for wildfires. PG&E outfitted two Black Hawk helicopters with 1,000 gallon tanks, which can be filled with water or fire retardant, to battle California's blazes. The utility owns two other Black Hawks that are used for construction, such as for setting poles and towers. Poppe has pledged to prevent catastrophic wildfires, which drove the ut
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PCG
News
- PG&E outage in Santa Rosa knocks out power to over 17,000 customers [CBS News]CBS News
- PG&E Partners with Plug and Play to Accelerate Innovation in San Jose, California [Yahoo! Finance]Yahoo! Finance
- Homeowner Insurance Costs Will Come Down Just A Little [Forbes]Forbes
- PG&E Co. (NYSE: PCG) had its price target lowered by analysts at Morgan Stanley from $18.00 to $17.00. They now have an "equal weight" rating on the stock.MarketBeat
- PG&E Co. (NYSE: PCG) had its price target lowered by analysts at Barclays PLC from $22.00 to $21.00. They now have an "overweight" rating on the stock.MarketBeat
PCG
Earnings
- 4/25/24 - Beat
PCG
Sec Filings
- 6/25/24 - Form 11-K
- 6/4/24 - Form 4
- 5/21/24 - Form 4
- PCG's page on the SEC website