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MarketScreener Homepage  >  Equities  >  Nyse  >  PG&E Corporation    PCG

PG&E CORPORATION

(PCG)
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PSPS Update: All Customers Impacted by Safety Shutoffs Have Now Been Restored

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10/12/2019 | 10:09pm EDT

Final 2,500 Customers Without Power Energized Saturday Afternoon

Pacific Gas and Electric Company (PG&E) said that every customer impacted by the Public Safety Power Shutoff (PSPS) had their power restored as of Saturday afternoon.

The last group of customers in Amador and Calaveras counties were restored at approximately 6 p.m. today.

Approximately 738,000 customers in 34 counties were impacted by the widespread, severe wind event. PG&E initiated the PSPS for community and customer safety shortly after midnight on Wednesday due to dry, windy weather and elevated fire risk across its service area. Wind gusts in excess of 70 miles per hour were recorded Wednesday evening and into Thursday.

Once the weather subsided and the “all clear” was given to start the patrol and restoration process, the vast majority of customers who were affected by the PSPS were restored within 48 hours.

To date, PG&E has confirmed 50 instances of weather-related damage to its system in the PSPS-impacted areas, and the company has either completed or is working to complete those repairs. Examples include downed lines and vegetation on power lines.

Restoration by County

County Name

% Customers Restored

TOTAL

100%

ALAMEDA

100%

ALPINE

100%

AMADOR

100%

BUTTE

100%

CALAVERAS

100%

COLUSA

100%

CONTRA COSTA

100%

EL DORADO

100%

GLENN

100%

HUMBOLDT

100%

KERN

100%

LAKE

100%

MARIN

100%

MARIPOSA

100%

MENDOCINO

100%

MERCED

100%

NAPA

100%

NEVADA

100%

PLACER

100%

PLUMAS

100%

SAN JOAQUIN

100%

SAN MATEO

100%

SANTA CLARA

100%

SANTA CRUZ

100%

SHASTA

100%

SIERRA

100%

SISKIYOU

100%

SOLANO

100%

SONOMA

100%

STANISLAUS

100%

TEHAMA

100%

TRINITY

100%

TUOLUMNE

100%

YOLO

100%

YUBA

100%

PG&E will submit a report detailing the damages to the CPUC within 10 days of the completion of the PSPS.

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 16 million people in Northern and Central California. For more information, visit www.pge.com and www.pge.com/news.


© Business Wire 2019
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Sales 2019 17 476 M
EBIT 2019 3 437 M
Net income 2019 -597 M
Debt 2019 24 406 M
Yield 2019 -
P/E ratio 2019 -8,66x
P/E ratio 2020 5,17x
EV / Sales2019 1,63x
EV / Sales2020 1,96x
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William D. Johnson President, Chief Executive Officer & Director
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