Latest news with #CentralCalifornia
Yahoo
19 hours ago
- Business
- Yahoo
PG&E Corporation (PCG) Launches $25M Innovation Fest to Tackle Energy, Wildfire Challenges
We recently compiled a list of PG&E Corporation stands first on our list among the cheap utility stocks. PG&E Corporation (NYSE:PCG), serving about 16 million people across Northern and Central California, is advancing innovation and sustainability initiatives in 2025 and tops our list for being one of the cheap utility stocks. A key recent development is its $25 million Innovation Pitch Fest set for September in Oakland, inviting entrepreneurs and tech experts to propose scalable solutions for challenges like managing AI data center energy demands, neighborhood electrification, wildfire mitigation, and AI-driven safety enhancements. This reflects the company's commitment to using cutting-edge technology to support California's ambitious environmental goals. PG&E Corporation (NYSE:PCG) also reported surpassing its 2025 target with a 42% reduction in methane emissions, demonstrating progress in environmental performance. Operationally, the business is optimizing its natural gas transmission capacity for October 2025 to improve efficiency. A utility worker in hardhat operating a large machine in a powerplant. Supporting its modernization efforts, PG&E Corporation (NYSE:PCG) secured a historic $15 billion loan from the Biden administration to fund climate initiatives and grid upgrades. This includes projects to increase hydroelectric dam capacity and develop 'virtual power plants,' highlighting a broad strategy to modernize California's energy infrastructure while promoting clean, reliable power. While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
PG&E misses profit estimates hit by higher operating and maintenance costs
(Reuters) -PG&E Corp on Thursday narrowly missed Wall Street estimates for second-quarter profit, as the utility firm was hit by an increase in operating and maintenance costs, sending its shares down 1.4% in premarket trading. The company said its total operating and maintenance costs rose 3.7% to $2.86 billion, adding that wildfire-related claims, net of recoveries and the utility's wildfire fund expense increased from a year earlier. PG&E has been blamed for sparking numerous wildfires, including some of California's most deadly, and has been making investments to improve the reliability of its power grid. In a wildfire mitigation plan filed in March for the 2026-2028 period, the utility said it aims to build nearly 700 miles of underground power lines and complete 500 miles of additional wildfire safety system upgrades between 2025 and 2026. PG&E's total quarterly operating revenue fell to $5.90 billion, from $5.99 billion a year earlier. PG&E is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. The company said it added nearly 3,300 new customers in the second quarter to its electric grid system. On an adjusted basis, PG&E reported a quarterly profit of 31 cents per share for the three-month period ended June 30, missing Wall Street expectations by 1 cent per share, according to LSEG.
Reuters
a day ago
- Business
- Reuters
PG&E misses profit estimates hit by higher operating and maintenance costs
July 31 (Reuters) - PG&E Corp (PCG.N), opens new tab on Thursday narrowly missed Wall Street estimates for second-quarter profit, as the utility firm was hit by an increase in operating and maintenance costs, sending its shares down 1.4% in premarket trading. The company said its total operating and maintenance costs rose 3.7% to $2.86 billion, adding that wildfire-related claims, net of recoveries and the utility's wildfire fund expense increased from a year earlier. PG&E has been blamed for sparking numerous wildfires, including some of California's most deadly, and has been making investments to improve the reliability of its power grid. In a wildfire mitigation plan filed in March for the 2026-2028 period, the utility said it aims to build nearly 700 miles of underground power lines and complete 500 miles of additional wildfire safety system upgrades between 2025 and 2026. PG&E's total quarterly operating revenue fell to $5.90 billion, from $5.99 billion a year earlier. PG&E is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. The company said it added nearly 3,300 new customers in the second quarter to its electric grid system. On an adjusted basis, PG&E reported a quarterly profit of 31 cents per share for the three-month period ended June 30, missing Wall Street expectations by 1 cent per share, according to LSEG.
Yahoo
a day ago
- Business
- Yahoo
PG&E misses profit estimates hit by higher operating and maintenance costs
(Reuters) -PG&E Corp on Thursday narrowly missed Wall Street estimates for second-quarter profit, as the utility firm was hit by an increase in operating and maintenance costs, sending its shares down 1.4% in premarket trading. The company said its total operating and maintenance costs rose 3.7% to $2.86 billion, adding that wildfire-related claims, net of recoveries and the utility's wildfire fund expense increased from a year earlier. PG&E has been blamed for sparking numerous wildfires, including some of California's most deadly, and has been making investments to improve the reliability of its power grid. In a wildfire mitigation plan filed in March for the 2026-2028 period, the utility said it aims to build nearly 700 miles of underground power lines and complete 500 miles of additional wildfire safety system upgrades between 2025 and 2026. PG&E's total quarterly operating revenue fell to $5.90 billion, from $5.99 billion a year earlier. PG&E is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. The company said it added nearly 3,300 new customers in the second quarter to its electric grid system. On an adjusted basis, PG&E reported a quarterly profit of 31 cents per share for the three-month period ended June 30, missing Wall Street expectations by 1 cent per share, according to LSEG.
CBS News
24-07-2025
- Business
- CBS News
Safeway workers in Northern, Central California set Friday night deadline to avoid strike
Thousands of Safeway employees throughout Northern and Central California may soon go on strike, warning they could walk off the job as soon as this weekend. The United Food and Commercial Workers Union (UFCW) Local 8, Local 5 and Local 648 have issued a deadline of midnight on Friday, July 25 for a new contract. Workers are seeking higher wages and improved benefits. Both sides, along with a federal mediator, met for bargaining last week but no deal was reached. The unions are accusing Albertsons, which owns Safeway, of stalling negotiations. "The company has rejected several proposals—offering neither a rationale nor a counteroffer and has yet to offer a comprehensive wage proposal," UFCW 8 said in a statement. "We have been bargaining for months, our members have voted nearly unanimously to authorize a strike, and we're done waiting." Bargaining sessions are set to take place on Thursday. A spokesperson for Safeway said in a statement to CBS News Bay Area, which read in part, "We have scheduled bargaining sessions this week and continue to work with a federal mediator. While we are disappointed that the Unions have indicated the possibility of a strike at some of our stores, we fully respect our associates' right to engage in collective bargaining." "We are hopeful a resolution will be reached soon, as we have in other parts of the country through successful collaboration with our union partners to secure agreements that recognize and reward our dedicated associates while supporting the company's ongoing growth," the spokesperson added.
