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

PG&E CORPORATION

(PCG)
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PSPS Update: More than 99.5 Percent of Customers Impacted by Safety Shutoffs Have Been Restored System-Wide

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10/12/2019 | 06:54pm EDT

All Bay Area Customers Restored

Remaining 2,500 Customers Expected to be Restored Today

Pacific Gas and Electric Company (PG&E) said Saturday that more than 99.5 percent of customers impacted by the Public Safety Power Shutoff (PSPS) that began on Wednesday now have their power restored.

Less than 2,500 customers remain without power due to the PSPS, and the company expects that they will be restored later today, pending any need to repair damage found.

Approximately 738,000 total customers were impacted by the PSPS event across 34 counties in PG&E’s service area from Humboldt County on the North Coast to Kern County in Southern California.

PG&E initiated a PSPS shortly after midnight on Wednesday due to dry, windy weather across its service area. Wind gusts in excess of 70 miles per hour were recorded Wednesday evening and into Thursday. The patrol and restoration process started once the “all clear” signal was given, indicating that restoration could begin.

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

99%

ALAMEDA

100%

ALPINE

100%

AMADOR

94%

BUTTE

100%

CALAVERAS

94%

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

59%

SISKIYOU

100%

SOLANO

100%

SONOMA

100%

STANISLAUS

100%

TEHAMA

99%

TRINITY

100%

TUOLUMNE

100%

YOLO

100%

YUBA

99%

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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Financials (USD)
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
Capitalization 4 059 M
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Number of Analysts 14
Average target price 13,69  $
Last Close Price 7,67  $
Spread / Highest target 174%
Spread / Average Target 78,5%
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William D. Johnson President, Chief Executive Officer & Director
Nora Mead Brownell Independent Non-Executive Chairman
Jason P. Wells Chief Financial Officer & Senior Vice President
Fred J. Fowler Independent Director
Eric D. Mullins Independent Director
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