Former Pacific Gas& Electric officials have agreed to pay $117 million to federal agencies affected by the deadly and devastating Camp and North Bay fires caused by the utility "s equipment. Of the officials targeted in the legal action in U.S. District Court in San Francisco, Pitre said, "I don" t see them getting hired as directors or officers anywhere else. "
OAKLAND, Calif. (AP) — Former executives and directors of Pacific Gas & Electric have agreed to pay $117 million to settle a lawsuit over devastating 2017 and 2018 California wildfires sparked by the utility’s equipment, it was announced Thursday. The settlement was announced by the PG&E Fire Victim Trust, which was established to handle claims filed by more than 80,000 victims of deadly wildfires ignited by PG&E’s rickety electrical grid. The trust’s lawsuit, filed last year, alleged that former officers and board members neglected their duty to ensure the utility’s equipment wouldn’t kill people. The complaint was an offshoot of a $13.5 billion settlement that PG&E reached with the wildfire victims while the utility was mired in bankruptcy from January 2019 through June 2020. As part of that deal, PG&E granted the victims the right to go after the utility’s hierarchy leading up to and during a series of wind-driven wildfires that killed more than 100 people and destroyed more than 25,000 homes and businesses, including the 2018 Camp Fire, which killed 85 people and destroyed much of the town of Paradise in Butte County.
The agreement was announced by the PG&E Fire Victim Trust, set up when the utility filed by bankruptcy after the Camp Fire.
OAKLAND, Calif., Sept. 29, 2022 /PRNewswire/ -- PG&E Corporation (NYSE: PCG) will hold a conference call on Thursday, October 27, 2022, at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) to discuss its third quarter 2022 results. The public can access the conference call through a…
A $117 million settlement has been reached with former PG&E Corp executives and directors who were accused in a lawsuit of lax oversight of the utility’s safety measures prior to the 2017 North Bay and 2018 Camp fires, two of California’s most destructive wildfires. The settlement was announced on Thursday by the PG&E Fire Victim […]
PG&E (PCG) +1.2% post-market Wednesday after disclosing it filed an application with the California Public Utilities Commission regarding the potential separation of its…
In a federal regulatory filing Monday, PG&E says one of its transmission poles has been seized as part of a U.S. Forest Service criminal probe into the Mosquito Fire that began earlier this month east of Foresthill in Placer County.
Stocks that traded heavily or had substantial price changes Monday: Tronox, Best Buy fall; Wynn Resorts, PG&E rise
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Monday: Wynn Resorts Ltd., up $7.15 to $66.80. The casino operator gained ground on reports that the gambling haven of Macao will ease some travel restrictions starting in November. Atlas Corp., up 43 cents to $13.95. A consortium of companies raised its buyout offer for the asset management company. PG&E Corp., up 14 cents to $12.75. The utility company will be added to the S&P 500 index Oct. 3. Generac Holdings Inc., up $5.01 to $181.58. The generator maker announced the release of a new portable power station. Amazon.com Inc., up $1.37 to $115.15. The internet retailer announced a two-day sale on certain items for Prime members in October. United Airlines Holdings Inc., down $1.17 to $31.90. The White House is announcing an initiative that will eventually allow consumers to see a more complete price on airline tickets. Best Buy Co., down $3.46 to $65.32. Retailers and other companies that rely on direct consumer spending slipped as recession fears grow.
Shares of PG&E Corp. jumped 4.2% in premarket trading Monday, after the California-based utility was added to the S&P 500 index , a little more than two years after emerging from bankruptcy. Late Friday, S&P Dow Jones Indices said PG&E would replace Citrix Systems Inc. in the benchmark index, as Citrix is being acquired by Vista Equity Partners in a deal expected to be completed on Sept. 30. PG&E had filed for bankruptcy in early 2019 amid billions in claims from wildfires in California, then emerged from bankruptcy in July 2020. In June 2022, the company pleaded not guilty to manslaughter charges in a 2022 California wildfire. The stock has gained 3.9% year to date through Friday, while the SPDR Utilities Select Sector ETF has ticked up 0.3% and the S&P 500 has dropped 22.5%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
PG&E (PCG) jumped 5.1% postmarket, and EQT (EQT) rose 0.6%, rose 0.6% as each stock is set to be added to the S&P 500.PG&E will take the place of Citrix Systems (CTXS), set to be…
PG&E Corp. (NYSE: PCG) will replace Citrix Systems Inc. (NASD: CTXS) in the S&P 500 effective prior to the opening of trading on Monday, October 3
The suit filed in San Francisco blames utility’s equipment for igniting the blaze.
Pacific Gas & Electric Co. found using ticker (PCG) have now 14 analysts covering the stock with the consensus suggesting a rating of ''Buy''. The target price ranges between 19 and 14 and has a mean target at 16.5. With the stocks previous close at 13.01 this indicates there is a potential upside of 26.8%. The 50 day MA is 11.86 and the 200 day moving average is 11.78. The market cap for the company is $31,952m. Company Website: https://www.pgecorp.com [stock_market_widget type="chart" template="basic" color="green" assets="PCG" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $40,523m based on the market concensus. PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources. As of December 31, 2021, the company owns and operates approximately 18,000 circuit miles of interconnected transmission lines; 33 electric transmission substations, approximately 108,000 circuit miles of distribution lines, 67 transmission switching substations, and 753 distribution substations; and natural gas transmission, storage, and distribution system consisting of approximately 43,800 miles of distribution pipelines, approximately 6,200 miles of backbone and local transmission pipelines, and various storage facilities.
Web Page Offers Emergency Preparedness Tips and Resources To help customers prepare for possible emergencies due to increasing wildfire risk, Pacific Gas and Electric Company (PGE) is expanding its wildfire safety and preparedness online toolkit. A new online Wildfire Safety Videos hub will serve as a one-stop shop with easy-to-navigate videos about customer support and wildfire safety initiatives. In response to California’s evolving climate challenge, PGE is continuing to create informational resources available to support customers and communities. This new web page will provide information about assistance for customers with medical needs, wildfire safety-related outages that keep customers safe and preventative measures to improve the safety and reliability of the electric system. “The safety of our customers and communities is our most important responsibility,” said Mark Quinlan, PGE’s Vice President of Electric System Operations. “By launching the Wildfire
A Tesla Megapack battery caught fire at PG&E''s Elkhorn large-scale battery storage facility in Monterey County, California, in the early hours of September 21. The fire was brought fully under cont…
A Tesla Megapack battery caught fire at PG&E’s Elkhorn large-scale battery storage facility in Monterey County, California, in the early hours of September 21. The fire was brought fully under control by the late afternoon, and its cause is under investigation.
A fire at PG&E''s Tesla-supplied Elkhorn Battery energy storage system at Moss Landing is considered fully controlled and road closures and shelter-in-place advisories have been lifted.
Highway 1 in Monterey County has reopened after a more than 12-hour-long closure due to a possible hazardous gas exposure.
WASHINGTON (dpa-AFX) - A fire in a Tesla, Inc (TSLA) storage facility on Tuesday triggered shelter-in-place advisory at Monterey in California. The fire in the facility, maintained by PG&E, was im…
As of late Tuesday morning, there were no power outages for PG&E customers, nor any injuries to on-site personnel due to the fire.
A fire outbreak at PG&E Corp’s energy storage facility on Tuesday that uses battery packs made by Tesla Inc has shut down part of Highway 1 in California. This came about a year after another fire broke out in a Tesla’s “Megapack” battery unit in Australia during testing of one of the world’s biggest energy […]
PG&E Corp. said a Tesla Inc. battery at the utility’s massive Moss Landing energy storage site caught fire early Tuesday, with the blaze shutting down a nearby stretch of California’s famed Highway 1.
A share of PG&E Corporation (NYSE:PCG) closed at $12.83 per share on Thursday, up from $12.73 day before. While PG&E Corporation has overperformed by 0.79%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, PCG rose by 37.66%, with highs and lows ranging from $13.19 to $9.23, […]
The common law solvent debtor exception, in short, means that a solvent debtor must generally pay post-petition interest accruing during bankruptcy at the contractual or state law rates before collecting surplus value from…
Pacific Gas & Electric Co. found using ticker (PCG) now have 14 analysts in total covering the stock. The consensus rating is ''Buy''. The range between the high target price and low target price is between 19 and 14 and has a mean target at 16.39. Given that the stocks previous close was at 12.73 this would imply there is a potential upside of 28.8%. The day 50 moving average is 11.2 and the 200 day moving average is 11.73. The market cap for the company is $31,631m. Visit the company website at: https://www.pgecorp.com [stock_market_widget type="chart" template="basic" color="green" assets="PCG" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $40,725m based on the market concensus. PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.
The Mosquito Fire prompted the evacuation of Foresthill in Placer County.
PG&E has floated a request for an additional revenue requirement in updated regulatory testimony, a proposal that could cause the average customer bill to jump several dollars.
As the stifling heat drags on and the demand for energy hits an "all-time high," Californians are pressed to limit air-conditioner usage.
PG&E(PCG) -2.9% in Tuesday''s trading as California copes with a record-breaking heat wave, and power prices in California and other western states soar to their highest in more than…
California declared a power grid emergency for Monday and expects all-time record demand on Tuesday, as a heatwave that has pushed temperatures past 110 degrees Fahrenheit in some…
The incoming heat wave means all hands-on deck for PG&E crews.
In recent trading session, PG&E Corporation (NYSE:PCG) saw 6.33 million shares changing hands at last check today with its beta currently measuring 1.23. Company’s recent per share price level of $12.65 trading at $0.12 or 1.00% at last check today assigns it a market valuation of $30.94B. That most recent trading price of PCG’s stock … PG&E Corporation (NYSE:PCG) Is 0.24% Higher Than A Week Ago, Can It Hit Well Above $0.16? Read More »
The Diablo Canyon plant. Photo: AFP PHOTO/Mark Ralston (Getty Images) California’s largest single source of electricity has lived to see another day. In a surprisingly overwhelming vote, the California Senate early on Thursday morning moved to extend the life of Diablo Canyon, the state’s last remaining nuclear power plant and a major source of carbon-free electricity. The vote was on a bill proposed by Governor Gavin Newsom this month and introduced to the Legislature just a few days ago. The legislation will extend Diablo Canyon’s planned retirement date by five years, mandating its closure by 2030, and gives some state agencies loopholes around certain environmental laws to allow the plant to stay open. The bill frees up $1.4 billion in loans to the plant’s owners, Pacific Gas & Electric, to help the plant stay open, and also allows PG&E to submit an application for federal funding that closes this month. (Officials say that the federal government should be able to foot the cost for most of the $1.4 billion loan.) The plant still needs to apply to the federal U.S.
California''s grid operator issued a statewide Flex Alert on Wednesday, asking residents to voluntarily limit their electricity use from 4:00 p.m. to 9:00 p.m
PG&E(PCG) +1.8% in Wednesday''s trading as California lawmakers passed legislation that aims to speed up a review of the utility''s plan to bury its power lines in areas at greatest risk…
Investment management company GoodHaven Capital Management released its second-quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the first half of the year 2022, the fund outperformed the S&P 500 index declining by 3.86% compared to a drop of 8.85% for the S&P 500 Index. The fund […]
There are two main reasons why moving averages are useful in forex trading: moving averages help traders define trend recognize changes in trend. Now well have a look on, SMA50 … The post Outrageous stocks: Affirm Holdings, Inc. (NASDAQ:AFRM -1.88%), PG&E Corporation (NYSE:PCG -2.56%) appeared first on Stocks Equity .
Threats of a coordinated attack on the U.S. power grid are serious and, if they occur, could result in deaths, serious injuries, social unrest and economic disaster. For decades, government reports, industry journals and academic articles have raised the alarm on the dangers of intentional attacks on the nation’s unprotected power grid. For example, in its 2014 report “Securing the U.S. Electrical Grid,” the Center for the Study of the Presidency and Congress called the nation’s power grid “an obvious target to a range of actors who would seek to strike at the U.S. homeland.” In 2007, the National Energy Technology Laboratory wrote, “The threat of both physical and cyber attack is growing and a widespread attack against the infrastructure cannot be ruled out.” With terrorist threats on the electric grid a reality, some utilities are taking measures to protect themselves from physical attacks on their infrastructure. Pacific Gas and Electric Co. (PG&E), for example, has doubled the number of Knightscope, Inc. (NASDAQ: KSCP) K5 Autonomous Security Robots in its lineup, bringing the number of machines guarding its facilities to 10.
LOS ANGELES (AP) — California Gov. Gavin Newsom and a group of legislators reached a last-minute compromise to extend the lifespan of the state’s last operating nuclear plant by up to five years. But the proposal faces an uncertain future as the Legislature concludes its two-year session this week. To pass, the proposal to keep the Diablo Canyon Nuclear Power Plant running needs a two-thirds vote in the state Assembly and Senate, a threshold that can be difficult to reach. Last week, a competing proposal emerged from Democratic legislators that would use $1.4 billion to speed up development of renewable power and transmission lines, while leaving intact plans to shutter the twin-domed plant by 2025. Newsom has argued that the reactors are needed to fill gaps in the state power supply as California transitions to solar, wind and other renewables. He earlier proposed the reactors remain online for an additional 10 years, which was dropped in the latest version of the plan. The legislation is anchored to the assumption that operator Pacific Gas & Electric will qualify for a share of $6 billion the Biden administration has set aside to rescue nuclear plants at risk of closing.
There are two main reasons why moving averages are useful in forex trading: moving averages help traders define trend recognize changes in trend. Now well have a look on, SMA50 … The post Insanely Awesome to Have this: DraftKings Inc. (NASDAQ:DKNG -5.16%), PG&E Corporation (NYSE:PCG -0.16%) appeared first on Stocks Equity .
LOS ANGELES (AP) — California legislators and Gov. Gavin Newsom’s office are discussing a possible compromise over the future of the state’s last operating nuclear power plant that could allow operator Pacific Gas & Electric to seek federal funds for a longer lifespan for the reactors. The tentative proposal would amount to a legislative placeholder, keeping the idea of an extended run for the Diablo Canyon Nuclear Power Plant in play while giving the Legislature more time to consider earthquake safety, delayed maintenance and other issues at the site, located midway between Los Angeles and San Francisco. The plan surfaced amid the chaotic, final days of the Legislature’s two-year session, which ends at midnight Wednesday. On Aug. 12, the Democratic governor proposed extending the plant’s operating run by five to 10 years beyond its scheduled closing by 2025, which he said was necessary to maintain reliable power supplies in the climate change era. But legislators have complained about being bull rushed at the last minute with a vastly complex plan, which would have to be in print as a bill by late Sunday to be considered in this session.
Pacific Gas & Electric Co. found using ticker (PCG) now have 14 analysts covering the stock. The analyst consensus points to a rating of ''Buy''. The range between the high target price and low target price is between 19 and 14 calculating the average target price we see 16.39. Given that the stocks previous close was at 12 this is indicating there is a potential upside of 36.6%. The 50 day moving average now sits at 10.82 while the 200 day moving average is 11.72. The market cap for the company is $30,818m. Visit the company website at: https://www.pgecorp.com [stock_market_widget type="chart" template="basic" color="green" assets="PCG" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $42,092m based on the market concensus. PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.
State Senators questioned a plan to loan PG&E money to keep the state’s only nuclear power plant open.
"Tsunami Of Shutoffs": 20 Million US Homes Are Behind On Power Bills At least 20 million households -- or about 1 in 6 American homes -- are behind on their power bills as soaring electricity prices spark what is said to be the worst-ever crisis in late utility payments, according to Bloomberg , citing data from the National Energy Assistance Directors Association (Neada). Neada said electricity prices had increased significantly since 2020 after a decade of stagnation. The steep rise has resulted in billions of dollars in overdue power bills. Source: Bloomberg Electricity inflation is being propelled by soaring costs of fossil fuels, such as natural gas, coal, and petroleum. Source: Bloomberg NatGas fuels about 40% of the US power grid and soared to the highest levels since 2008 on Tuesday. The chart below shows for the two decades, real electricity prices were relatively flat, except for the commodity boom times around the 2008 GFC. Now CPI less energy has peaked, though electricity continues to rise to a blistering 30% year on year.
The trading price of PG&E Corporation (NYSE:PCG) floating lower at last check on Friday, August 19, closing at $11.89, -2.02% lower than its previous close. Traders who pay close attention to intraday price movement should know that it has been fluctuating between $12.00 and $12.17. The company’s P/E ratio in the trailing 12-month period was … PG&E Corporation’s (NYSE: PCG) Stock Forecast: Increase To $19.00 In A Year Read More »
SACRAMENTO, Calif. (AP) — A proposal circulated Friday by California Democratic legislators would reject Gov. Gavin Newsom’s plan to extend the lifespan of the state’s last operating nuclear power plant — and instead spend over $1 billion to speed up the development of renewable energy, new transmission lines and storage to maintain reliable power in the climate change era. The legislative plan obtained by The Associated Press reveals mounting tension between the Democratic governor and some members of his own party over a politically volatile issue. The rift was revealed one week after Newsom proposed giving plant operator Pacific Gas & Electric a forgivable loan up to $1.4 billion as part of a plan to keep the Diablo Canyon Nuclear Power Plant running beyond its scheduled closing by 2025. Newsom has argued that as hotter temperatures drive up the demand for power, the twin-domed reactors along the coast between Los Angeles and San Francisco would provide a necessary buffer against electrical blackouts, as the state transitions to power from solar, wind and other renewable energy sources.
Tesla’s first California Virtual Power Plant event on Wednesday had thousands of homes providing electricity to the grid across the state Tesla and PG&E had … Read more The post Tesla Virtual Power Plant Sees 2,300+ Homes Participate in California Event appeared first on TeslaNorth.com .
With over 1,500 California Tesla Powerwall users already enrolled in the company’s Virtual Power Plant program as of May, the joint program with PG&E is … Read more The post First Tesla Virtual Power Plant Set for Some California Customers appeared first on TeslaNorth.com .
This Is What Hedge Funds Bought And Sold In Q2: Full 13F Summary While we already covered what may have been the most boring 13F of the second quarter, namely that of Berkshire Hathaway which saw very few changes with Warren Buffett merely adding to a few legacy positions and trimming a few others (full breakdown here)… ... as well as the most interesting one, that from Tiger Global which confirmed that the so-called hedge fund was nothing more than a paper-hands retail investor, dumping most of its biggest holdings just as the market troughed, and leaving the world''s most overrated tech fund missing on all of the recent market upside... ... we also have had quite a few hedge funds inbetween. Courtesy of Bloomberg here are the highlights of the just concluded 13F seasons: Risk off: Chase Coleman’s Tiger Global Management, Dan Sundheim’s D1 Capital and Michael Burry’s Scion Asset Management were among firms that continued to offload equities in the period. Tiger’s aggregate exposure to stocks dropped by about 55% to $11.8 billion.