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PG&E CORPORATION (PCG)
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PG&E : and California Fire Foundation Unite to Defend Against the Impacts of Climate Change

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03/09/2018 | 11:33am CEST

SACRAMENTO, Calif. - Pacific Gas and Electric Company (PG&E) announced today that it has provided the California Fire Foundation (CFF) with $1 million for a grant program that will help firefighters throughout the state prepare for and prevent climate change-driven disasters by providing funding for programs such as fire-retardant roof incentives, land-use planning, community education and grass clearing.

'As California deals with the impacts of climate change, PG&E is committed to being there at every step, working to improve disaster response capabilities, helping to rebuild in the aftermath of extreme weather and natural disasters, and strengthening our communities' resilience. The California Fire Foundation is a critical partner in these efforts, particularly in educating our communities about wildfire prevention and providing support to firefighters,' said PG&E Corporation CEO and President Geisha Williams.

The California Fire Foundation, a non-profit 501c3 organization, aids firefighters, their families and the communities they protect. The Foundation's Firefighters on Your Side program, also supported by PG&E, provides bilingual fire safety print and video campaigns offering important steps the public can take to stay safe.

With this contribution, CFF will expand its programs by encouraging fire organizations from around the state to identify needs and apply for grant funding. Applications must be submitted by June 15, 2018.

'PG&E and the California Fire Foundation believe in putting safety first. We're all about improving public safety and reducing risks. This funding from PG&E will go a long way toward helping us help communities prepare for and prevent safety hazards caused by climate change,' said Lou Paulson, President of the California Professional Firefighters, who serves on PG&E's community advisory group and on Gov. Jerry Brown'sCalifornia Fire Service Task Force on Climate Impacts.

PG&E's community investments in support of its three-pronged approach to climate change-'Respond, Rebuild and Resilience'-includes practicing and improving its disaster preparedness and response, investing in more resilient gas and electric systems and leading the way on reducing greenhouse gas emissions as California works toward a clean, sustainable energy future.

California is experiencing the impacts of climate change, including drought and rising sea levels and more frequent and severe storms, heatwaves and wildfires. Across the state, more than 5,700 wildfires burned in 2016 and an estimated 6,500 burned in 2017, according to CAL FIRE.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation(NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 20,000 employees, the company delivers some of the nation's cleanest energy to nearly 16 million people in Northern and Central California.

About California Fire Foundation

The California Fire Foundation, a non-profit 501 (3) organization, provides emotional and financial assistance to families of fallen firefighters, firefighters and the communities they protect. Formed in 1987 by California Professional Firefighters, the California Fire Foundation's mandate includes an array of survivor and victim assistance projects and community initiatives.

Contact:

Tel: (415) 973-5930

(C) 2018 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
PACIFIC GAS & ELECTRIC COMPANY -8.82% 25.32 Delayed Quote.-10.21%
PG&E CORPORATION -1.04% 46.71 Delayed Quote.4.19%
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Financials ($)
Sales 2018 17 370 M
EBIT 2018 3 323 M
Net income 2018 1 129 M
Debt 2018 19 695 M
Yield 2018 -
P/E ratio 2018 21,48
P/E ratio 2019 11,75
EV / Sales 2018 2,52x
EV / Sales 2019 2,48x
Capitalization 24 156 M
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Number of Analysts 16
Average target price 52,4 $
Spread / Average Target 12%
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Managers
NameTitle
Geisha J. Williams President, Chief Executive Officer & Director
Richard C. Kelly Independent Non-Executive Chairman
Nickolas Stavropoulos Chief Operating Officer
Jason P. Wells Chief Financial Officer & Senior Vice President
Richard A. Meserve Independent Director
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