PCG - PG&E Corporation

NYSE - NYSE Delayed Price. Currency in USD
-1.66 (-8.56%)
At close: 4:00PM EDT

17.95 +0.21 (1.18%)
Pre-Market: 8:03AM EDT

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Previous Close19.40
Bid17.75 x 2200
Ask18.01 x 1100
Day's Range17.33 - 19.22
52 Week Range5.07 - 49.42
Avg. Volume8,053,753
Market Cap9.388B
Beta (3Y Monthly)0.47
PE Ratio (TTM)N/A
EPS (TTM)-13.78
Earnings DateJul 24, 2019 - Jul 29, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend Date2017-09-28
1y Target Est23.75
Trade prices are not sourced from all markets
  • Why Callon Petroleum, Teva Pharmaceutical Industries, and PG&E Slumped Today
    Motley Fool16 hours ago

    Why Callon Petroleum, Teva Pharmaceutical Industries, and PG&E Slumped Today

    The indexes didn't make major moves today, but these stocks did.

  • Business Wire20 hours ago

    PG&E Making Substantial Progress on Wildfire Safety Efforts to Protect Customers, Communities

    Pacific Gas and Electric Company (PG&E) continues to make substantial progress toward its Community Wildfire Safety Program (CWSP) goals, intended to mitigate the risk of wildfires and protect customers and communities.

  • Top Utilities Fell, Treasury Yields Rose Last Week
    Market Realist20 hours ago

    Top Utilities Fell, Treasury Yields Rose Last Week

    The benchmark ten-year Treasury yields continued to rise last week due to better-than-expected economic data.

  • Moody's4 days ago

    San Diego Gas & Electric Company -- Moody's affirms San Diego Gas & Electric Company's ratings; outlook remains negative

    Moody's Investors Service ("Moody's") today affirmed San Diego Gas & Electric Company's (SDG&E) ratings, including its Baa1 Issuer rating, A2 senior secured rating as well as its P-2 short-term rating.

  • Moody's4 days ago

    Southern California Edison Company -- Moody's affirms Edison and Southern California Edison ratings; outlook remains negative

    Moody's Investors Service ("Moody's") today affirmed the ratings of Edison International (Edison), including its Baa3 senior unsecured rating, and the ratings of its principal subsidiary Southern California Edison Company (SCE), including its Baa2 senior unsecured rating. Please see below for a complete list of ratings affirmed.

  • Reuters4 days ago

    California governor signs bill for $21 bln wildfire fund

    California Governor Gavin Newsom on Friday signed a bill approved by lawmakers a day earlier that creates a $21 billion fund to help bankrupt PG&E Corp and the state's other investor-owned utilities cover liabilities arising from future wildfires caused by their equipment. Both chambers of California's legislature rushed this week to approve the bill and send it to Newsom to meet the July 12 deadline demanded by S&P Global Ratings. The credit rating agency had warned it could lower its ratings on the state's two other major investor-owned power providers, Edison International's Southern California Edison and Sempra Energy's San Diego Gas & Electric, absent "concrete actions" by policymakers to reduce credit risks posed by wildfires to the state's utilities.

  • PG&E May Face New Calls to Let Others Craft a Recovery Plan
    Bloomberg4 days ago

    PG&E May Face New Calls to Let Others Craft a Recovery Plan

    (Bloomberg) -- Another group of creditors at PG&E Corp. may throw its support behind efforts to end the bankrupt utility’s exclusive right to craft a recovery plan.The official committee of unsecured creditors is expected to endorse a pending motion that would terminate PG&E’s privilege before its scheduled Sept. 26 expiration, and allow others to present alternatives, according to people with knowledge of the matter.The committee plans to meet early next week to finalize their position, said the people, who asked not to be identified because the deliberations are private. No final decision has been made and the committee could still choose not to support the motion.An ad hoc group of creditors, led by Pacific Investment Management Co., Elliott Management Corp. and Davidson Kempner Capital Management, presented a motion last month to end exclusivity immediately so they can offer a competing $47.5 billion restructuring plan that could get PG&E out of bankruptcy by year-end or shortly after.PG&E PlanThey’re seeking to replace PG&E’s proposed $31 billion reorganization plan, which would see it emerge from bankruptcy in March with help from tax-exempt bonds that the state would have to agree to issue. California Governor Gavin Newsom said in an interview on Thursday that he doesn’t support PG&E’s proposal to issue tax-exempt bonds at this point.A hearing on the motion is scheduled for July 24.Representatives for the creditor groups declined to comment. In an emailed statement, the company said the court previously had extended its exclusivity to provide “additional time needed to formulate and negotiate a plan of reorganization that is in the best interests of all stakeholders, and PG&E has made substantial progress.”In Chapter 11 cases, companies typically get an exclusive period to devise a reorganization plan. While it’s unusual for a court to cut it short, this happened when PG&E’s utility -- Pacific Gas & Electric Co. -- went through bankruptcy in the early 2000s.That case was overseen by U.S. Bankruptcy Judge Dennis Montali, who is also overseeing the current case. In May, Montali said he ended the exclusivity in PG&E’s previous reorganization after a viable, competing proposal surfaced.The ad hoc committee has asked him to consider approving their request in late July.Earlier this week, the Utility Reform Network, a consumer advocacy group, threw its support behind the effort of PG&E’s ad hoc unsecured noteholders to end the exclusivity period.\--With assistance from Allison McNeely and Steven Church.To contact the reporters on this story: Scott Deveau in New York at sdeveau2@bloomberg.net;Mark Chediak in San Francisco at mchediak@bloomberg.netTo contact the editors responsible for this story: Rick Green at rgreen18@bloomberg.net;Lynn Doan at ldoan6@bloomberg.net;Liana Baker at lbaker75@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • California Utilities Get $21 Billion Backstop in Newsom Win
    Bloomberg4 days ago

    California Utilities Get $21 Billion Backstop in Newsom Win

    (Bloomberg) -- For a leader with grand ambitions of tackling big issues from health care to taking on President Donald Trump, California Governor Gavin Newsom has spent much of his first six months in office bogged down in a crisis at home.Two days after his November election, the state’s deadliest wildfire decimated an entire town, with PG&E Corp.’s equipment blamed as the likely cause. The January bankruptcy of California’s largest utility set off a scramble for Newsom to unite lawmakers, power companies and interest groups in finding a way to cover the billions of dollars in liabilities from devastating blazes.There were moments when the endeavor seemed doomed to failure. In fact, as recently as two weeks ago, things still looked bleak. A July 12 deadline to get a deal approved by the legislature was approaching fast and the votes still were up in the air. But then in the span of a few days, Newsom managed to pull off the biggest legislative victory of his young tenure as governor and, in the process, burnish his credentials as a national political figure.The state Assembly on Thursday overwhelmingly approved a bill that would create a $21 billion fund that power companies can tap to cover future fire liabilities, while limiting the financial obligation of ratepayers and requiring more stringent safety standards. Newsom signed the bill into law Friday in Sacramento, saying it was the result of a long and bipartisan process.Meeting Friday’s deadline was key, with lawmakers headed for a month-long recess and credit-rating companies warning that other California utilities may be cut to junk status in the absence of state action.“It’s good that we passed something before we head into the the teeth of fire season,” Newsom, 51, said in an interview Thursday. “I’m relieved. We’re more prepared than we have been in years but we’re not even close to as prepared as we need to be.”Sweeping PlanNewsom, the Democratic successor to four-term governor Jerry Brown, won election after skewering Trump as “a bully,” branding California as “keeper of the nation’s future” and sketching a sweeping vision of the state’s obligation to lead on climate change while providing affordable housing, education and health care to those left behind amid an unprecedented economic boom. Political observers widely expect his ambitions to include an eventual White House run.But crises at home have felled California political candidates with grand aspirations before. Former Democratic Governor Gray Davis swept into office in 1999 with strong approval ratings and ambitious plans but was ousted in a recall election just four years later after being blamed for an energy shortage that led to blackouts and PG&E’s 2001 bankruptcy filing.While Newsom has been grappling with the latest PG&E bankruptcy, he also took on numerous issues simultaneously, from health care to housing and the death penalty.“He is bucking the conventional political idea that he should only have one or two signature issues,” said Daniel Zingale, an adviser to the governor. “He subscribes to the idea that we are living in times of fierce urgency.”Along the way, Newsom has drawn plenty of criticism. The nonpartisan Legislative Analyst’s Office said his budget, though it projects a $21 billion surplus and sets aside $19 billion in various reserve accounts, misses an opportunity to better protect the state from a downturn. Republicans, a minority in the legislature, decried the expansion of the health-care system to cover undocumented immigrants without fixing the service first.Delegating TasksThe PG&E case illustrated one of Newsom’s governing tactics: delegating others to study and devise solutions. In February, he named a strike team of staff members and outside advisers, chaired by his chief of staff, Ann O’Leary, to review the wildfire liability crisis.After months went by with little publicly visible progress on the utility wildfire issue, though, some lawmakers began to complain. In early June, a poll by the Public Policy Institute of California showed that only a third of state residents approved of how Newsom was handling the situation.“The governor’s office was involved in many things, such as the budget,” said state Senator Bill Dodd, a Democrat whose district was ravaged by utility-spawned wildfires in 2017. “I’m not involved in the budget, I’m involved in wildfires, and I was impatient that this was taking too long.”Newsom said in the interview that he and his staff worked steadily with top lawmakers on the wildfire bill. One especially significant moment, he said, was a March meeting with credit-rating firms at which he and legislative leaders described their plans and asked the companies to refrain from downgrading utilities while the effort was ongoing.Bob Hertzberg, the Democratic Senate majority leader, said Newsom’s staff began talking with him and other legislative leaders about the wildfire issue shortly after the inauguration. The pace of those talks accelerated in recent weeks as the July 12 deadline approached, he said.They resulted in the outlines of the book-length piece of legislation that eventually won final passage, while leaving out priorities such as fire-prevention programs and overhauling state law governing residential and commercial fire insurance, in the interest of meeting the deadline.Newsom said in the interview that he is committed to doing more to address those issues when the legislature returns from recess in August. His recently passed budget contains almost $1 billion for fire- and disaster-mitigation programs.Frenzied TalksA critical part of the effort to move the bill toward passage was gaining support from an array of key constituencies, from fire victims to utility ratepayers and employees. Ana Matosantos, a top Newsom aide who serves as his cabinet secretary, cycled among legislative offices and held briefings in the past two weeks with full caucuses of both the Senate and Assembly, speaking without notes on details of the complex bill, said Dodd and Autumn Burke, a member of the Assembly utilities committee.“We worked closely with the leaders of both chambers as they educated their members,” O’Leary, the governor’s chief of staff, said in an interview. “It was hand-in-glove, making phone calls, meeting with senators and Assembly members.”On Monday, hours before the bill was to get its first big test at a Senate committee hearing, the governor met with a group of wildfire victims including Patrick McCallum, a veteran lobbyist whose Santa Rosa house was destroyed in the 2017 Wine Country fires. Newsom listened intently as they told their stories, McCallum said, then told the group: “I’m doing this so this doesn’t happen to future victims. I will be aggressive with PG&E going forward.”Newsom’s staff sought support from the victims’ group to help persuade lawmakers to support the utility bill, McCallam said. “We made it clear, to get our help, we needed certain provisions, and they met what we felt was needed.”Days of frenzied negotiations, in fact, led to a heavily amended bill that won support from utility labor unions, solar providers and even state Senator Jerry Hill, a longtime PG&E critic whose district was the site of a deadly 2010 explosion involving one of the utility’s gas pipelines. In the interview, Newsom called Hill’s backing “a tipping point” that helped persuade other members to support the legislation.Mayoral CriticismOne change intended to win over labor, an amendment that makes it more difficult for cities to acquire utility assets, angered Bay Area mayors. San Francisco’s London Breed and other area mayors wrote a sharply worded letter to Newsom and legislative leaders, saying that the amendments “set a dangerous precedent.”Here, too, Newsom’s staff worked to prevent the opposition from delaying the bill. After texting back and forth with Matosantos, San Jose Mayor Sam Liccardo said he talked with her by phone, and she agreed to work together “on softening the unintended impact,” Liccardo said.The bill ended up passing in the Senate on Monday by a 31-7 margin. In preparation for Thursday’s final passage vote in the Assembly, Chris Holden, chairman of the utilities committee, criss-crossed the hallways of the capitol building, visiting offices and talking with Assembly members about the urgency of passing a bill. Newsom’s staff continued to make calls until late Wednesday night, the governor said.Dodd, sitting in his capitol office late Tuesday as lobbyists and others lined up outside for meetings with him, pulled out his phone and scrolled through a long chain of text messages he had received from Newsom.“Thanks for all your help with this … big deal,” one read. “Congrats on the vote tonight. Appreciate all the hard work,” read another.(Updates with Newsom signing legislation in fourth paragraph.)To contact the reporters on this story: Jeffrey Taylor in San Francisco at jtaylor48@bloomberg.net;Romy Varghese in San Francisco at rvarghese8@bloomberg.net;Mark Chediak in San Francisco at mchediak@bloomberg.netTo contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Kara Wetzel, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Business Wire4 days ago

    PG&E Introduces Revolutionary Wildfire Monitoring Using Satellite Technology  in the Fight against California Wildfires

    After several years of testing and development, Pacific Gas and Electric Company (PG&E) has deployed the PG&E Satellite Fire Detection and Alerting System. The Satellite Fire Detection and Alerting System is a state-of-the-science program that incorporates data from the two new GOES satellites, as well as three polar orbiting satellites, to provide PG&E with advanced warning 24/7 of potential new fire incidents. The satellites are operated by the United States' National Oceanic and Atmospheric Administration (NOAA)'s National Environmental Satellite, Data, and Information Service division.

  • PG&E Is Pushing Tax-Exempt Bond Bill for Fire Claims
    Bloomberg5 days ago

    PG&E Is Pushing Tax-Exempt Bond Bill for Fire Claims

    (Bloomberg) -- PG&E Corp. is lobbying California legislators to allow it to issue tax-exempt bonds to help pay for past and future wildfire claims, according to people familiar with the matter.The bankrupt utility is pushing lawmakers to introduce the legislation next month to allow PG&E to present its $31 billion restructuring plan by Sept. 26, after which stakeholders will be able to submit competing proposals, said the people, who asked not to be identified because the matter is private.PG&E currently intends to file its reorganization plan in August and exit bankruptcy protection in March 2020, according to documents reviewed by Bloomberg.Any bill would need California Governor Gavin Newsom’s sign-off. Newsom, a Democrat, said in an interview on Thursday that he doesn’t support PG&E’s proposal at this time. “That’s not where we are,” Newsom said, noting that some legislators have proposed the idea.Any bill would have to clear the state’s Democratic-controlled Assembly and Senate by the end of the legislative session on Sept. 13 and then be signed by the governor by Oct. 13.A representative for PG&E declined to comment.PG&E shares were down 4.4% to $20.45 at the close in New York. They dropped as much as 2.2% more in after-market trading after Newsom said he didn’t support the plan.Wildfire ClaimsUnder separate legislation approved Thursday, power companies would be able to borrow from a multibillion-dollar fund to pay for future wildfire claims. The measure would also make it easier for utilities to recover the costs from their customers if they meet new, more stringent safety standards.PG&E wouldn’t be able to tap into the fund until it settles claims with past wildfire victims and emerges from bankruptcy by June 30 of next year.“We’re not at this stage entertaining new proposals,” said Ann O’Leary, Newsom’s chief of staff. Once PG&E starts “making serious moves to comply with this plan, sure, we’ll entertain other ways of moving forward, but we’re not presently supporting that,” she said of PG&E’s bond request.The bill being pushed by San Francisco-based PG&E would authorize a state entity to issue about $10 billion in tax-exempt bonds. The tax-exempt status would allow more capital to be raised more quickly, with the debt being securitized by diverting a portion of the company’s earnings over the life of the bonds, the people said.Proceeds EarmarkedAbout $7 billion of the proceeds would be set aside for a $14 billion fund for claims from past wildfire victims, according to the people. Another $3 billion would be earmarked for PG&E’s contributions to the statewide fund, they said.The utility doesn’t believe legislation would be required to raise another $5 billion that would be securitized through $500 million in cost cuts at the utility, the people said.If the bill fails to pass by the September deadline, PG&E is considering raising the capital to help finance part of its reorganization through a rights offering that would allow existing shareholders to buy additional equity in the utility proportionate to their current holdings to avoid dilution, the people said. A rights offering would delay the company’s emergence from bankruptcy, the people said, adding that issuing bonds would be essential for paying wildfire claims expeditiously.Current ProposalPG&E’s proposed restructuring would be funded by $15 billion of securitizations, the issuance of $14 billion in debt and $2 billion in insurance proceeds, according to documents reviewed by Bloomberg.An ad hoc committee of the company’s senior creditors led by Pacific Investment Management Co., Elliott Management Corp. and Davidson Kempner Capital Management is developing an alternative $47.5 billion restructuring plan. That group has asked a bankruptcy judge to end the exclusivity period granted to PG&E through Sept. 26 so it can present its own plan.(Updates with Newsom comments in the fourth paragraph.)\--With assistance from Romy Varghese and Jeffrey Taylor.To contact the reporters on this story: Scott Deveau in New York at sdeveau2@bloomberg.net;Mark Chediak in San Francisco at mchediak@bloomberg.net;Jeffrey Taylor in San Francisco at jtaylor48@bloomberg.netTo contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, ;Liana Baker at lbaker75@bloomberg.net, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters5 days ago

    UPDATE 1-California lawmakers approve legislation for $21 bln wildfire fund

    California lawmakers approved legislation on Thursday to create a $21 billion fund to help utilities in the state pay for claims arising from future wildfires sparked by their equipment, tackling a top issue for the state. The approval came after power provider PG&E Corp filed for bankruptcy in anticipation of more than $30 billion in wildfire liabilities. The legislation now goes to Governor Gavin Newsom.

  • Bloomberg5 days ago

    California’s Fix for Utility Crisis Depends on Munis, Again

    (Bloomberg) -- While California’s wildfire liability crisis can be seen clearly through the stock gyrations of the state’s largest investor-owned electric utilities, it’s the stolid municipal-bond market that stands to solve it. And it would be the second time that it’s come to the aid of California.A centerpiece of Governor Gavin Newsom’s sweeping plan to help the companies cover the mounting costs from wildfires that their equipment keeps igniting is a fund seeded with $10.5 billion in municipal revenue bonds. The fund may expand from being used as a line of credit to a $21 billion insurance pool should the companies agree to make contributions.Tapping municipal-bond investors is how California paid for its efforts to end rolling blackouts during the 2000-2001 energy crisis, sparked by a botched deregulation of electricity markets. It’s also how Florida stopped insurers from leaving the state after Hurricane Andrew devastated coastal communities in 1992. Given the appetite for municipal bonds -- a mainstay of retirement accounts that for the most part fails to draw headline-making trades -- the strategy is likely to prove an effective one for the state when it’s ready to sell the bonds.“California taxpayers’ thirst for supply right now is insatiable. The marketplace would be able to absorb it with no issues whatsoever,” said David Alter, head of municipal bond research at Goldman Sachs Asset Management. “I don’t think they’ll do all $10.5 billion all at once, but in this environment, that wouldn’t be a problem either, frankly.”Legislation passed Thursday seeks to address a multi-billion dollar problem that helped push the state’s biggest utility, PG&E Corp., into bankruptcy in January: Wildfires are increasing in number and severity. And an unusual California doctrine holds utilities liable for wildfires that their equipment sparks, even if they aren’t proven negligent, leaving officials worried about the reliability of power in the most-populous U.S. state. Just weeks into the fire season, utility lines are already sparking blazes.Read more: California Clears Fund to Cover Fire Costs That Engulfed PG&ENewsom’s plan helps investor-owned utilities pay for future wildfire damages by setting up -- at the minimum -- a $10.5 billion fund to act as a line of credit. The state’s Department of Water Resources would issue one or more series of the debt. It would be backed by extending a charge customers are already seeing on their bills from the $11.2 billion in bonds the state sold starting in 2002. That issuance reimbursed California from buying electricity for insolvent utilities hobbled by rising prices and manipulation by Enron Corp. and other companies in the deregulated market.(Corporate bond investors may get a cut of the action if a utility that draws down on the line of credit gets permission to sell so-called recovery bonds. These deals would be backed by a different charge on ratepayers.)Enough YieldThe bill explicitly notes that neither the faith and credit nor the taxing power of the state of California would be pledged to cover debt payments. While details have yet to be fleshed out, the legislation calls for investment-grade ratings.Separately, PG&E is pushing lawmakers for legislation that would authorize a state entity to issue about $10 billion in tax-exempt bonds, with about $7 billion of the proceeds set aside for a $14 billion fund for claims from past wildfire victims. Another $3 billion would be earmarked for PG&E’s contributions to the statewide fund, according to people familiar with the matter.The tax-exempt status would allow more capital to be raised more quickly, with the debt being securitized by diverting a portion of the company’s earnings over the life of the bonds, the people said.While the municipal market is different today than it was 20 years ago, one aspect is still true: Californians flock to tax-free income because of the state’s high taxes on the wealthy. A 2002 sale of the bonds saw good demand, according to Bloomberg reports at the time. It’s accentuated now because of the low supply of bonds, due to a variety of reasons, including the federal tax overhaul that also resulted in a cap of state and local deductions. Yields on bonds issued by the state and many local governments are in line or below those for top-rated debt.Craig Brothers, a senior portfolio manager at Bel Air Investment Advisors in Los Angeles, said the fact that the issuance is to cover wildfire costs may give investors pause. Fires are an annual occurrence, while East Coast governments have issued bonds after hurricanes, discrete natural disasters, he said.Still, he said, any debt, particularly those issued now in California, could draw buyers with enough compensation. “If they give enough yield, that may cause people to overlook the flaws of the concept,” Brothers said. “They can probably tempt people to overlook strict credit analysis with yield.”Related: PG&E Customers Still Paying for Crisis That Led to Its Last Bust\--With assistance from Mark Chediak and Scott Deveau.To contact the reporters on this story: Romy Varghese in San Francisco at rvarghese8@bloomberg.net;Danielle Moran in New York at dmoran21@bloomberg.netTo contact the editors responsible for this story: Elizabeth Campbell at ecampbell14@bloomberg.net, Michael B. MaroisFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Business Wire5 days ago

    PG&E Offers Ways to Keep Air Conditioning Costs Down this Summer

    As the mercury rises this summer, customers are looking for ways to keep their electricity bills down. Pacific Gas and Electric Company offers five simple ways to beat the heat and lower air conditioner costs this July.

  • PG&E used to be Silicon Valley's electricity provider. No more.
    American City Business Journals5 days ago

    PG&E used to be Silicon Valley's electricity provider. No more.

    In just three years, community-owned electricity generating companies have almost pushed the utility giant out of the market, although the investor-owned utility still delivers most power through its grid.

  • Benzinga5 days ago

    Federal Judge Orders PG&E To Respond To Recent WSJ Accusations By July 31

    PG&E Corporation (NYSE: PCG ) has been ordered by a federal judge on Wednesday to respond, “on a paragraph-by-paragraph basis,” to a Wall Street Journal investigation that states the company failed to ...

  • PG&E’s Failure to Fix Aging Towers and Negligence Caused Fires
    Market Realist5 days ago

    PG&E’s Failure to Fix Aging Towers and Negligence Caused Fires

    PG&E;'s (PCG) troubles just got bigger. PG&E; knew that many of its transmission towers were at the end of their useful lives.

  • Business Wire6 days ago

    PG&E Joins EEI and IBEW to Recognize and Thank Lineworkers on National Lineworker Appreciation Day

    Today, Pacific Gas and Electric Company (PG&E) along with Edison Electric Institute (EEI) and the International Brotherhood of Electrical Workers (IBEW), will celebrate lineworkers across its service area as part of National Lineworker Appreciation Day. National Lineworker Appreciation Day honors the life and work of Henry Miller, the first president of IBEW, as well as the nation’s more than 74,000 electrical lineworkers who often take themselves away from their families and friends to serve their customers and communities.

  • California Utilities Are Upbeat, Wildfire Bill Moves Forward
    Market Realist6 days ago

    California Utilities Are Upbeat, Wildfire Bill Moves Forward

    On Tuesday, PG&E; (PCG) stock rose more than 6% during the early trading hours. The stock lost most of its gains and closed 0.7% higher.

  • Barrons.com6 days ago

    Podcast: Mexican Peso Falls Against U.S. Dollar

    – after a senior government official resigned. Mexican Finance Minister Carlos Urzúa tweeted his resignation on Tuesday afternoon, citing policy differences with Mexico’s president. The former cabinet member accused the government of appointing unqualified officials and making public-policy decisions without enough evidence.

  • Bloomberg7 days ago

    A San Francisco Bid to Buy PG&E Is Facing a Setback in Fire Bill

    (Bloomberg) -- San Francisco’s bid to buy a piece of bankrupt PG&E Corp. is about to get a lot more complicated.Some last-minute changes to a bill making its way through California’s legislature would subject a takeover by the city to an extensive review by state utility regulators. While San Francisco hasn’t decided whether to make a multibillion-dollar offer for PG&E’s local wires, Mayor London Breed was quick to call the measure “unnecessary” and urged lawmakers to strike it from the legislation. Also worth noting: The mayors of nearby San Jose and Oakland joined Breed in blasting the language.Lawmakers crafted the bill, backed by California Governor Gavin Newsom and passed by the state’s Senate late Monday, to help utilities cover the mounting liabilities from wildfires that their equipment keeps igniting -- damages that forced PG&E into bankruptcy in January. It would, among other things, create a statewide fund to help them cover the costs. The legislation still needs to clear the state’s Assembly.To contact the reporter on this story: David R. Baker in San Francisco at dbaker116@bloomberg.netTo contact the editor responsible for this story: Lynn Doan at ldoan6@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Business Wire7 days ago

    PG&E Begins Notifying Stakeholders of Bar Date Deadline and Process for Filing Claims

    Proof of Claim Forms Must be Received by October 21, 2019 at 5:00 p.m.

  • Benzinga7 days ago

    PG&E Investors Optimistic Following California Senate's Wildfire Measure

    PG&E Corporation  (NYSE: PCG ) shares were trading higher Tuesday after the California Senate passed a plan to address wildfire impacts on the state’s investor-owned electric utilities. The bill AB1054 addressing ...

  • Business Wire7 days ago

    After Ridgecrest Quakes, PG&E Urges Customers to Call for All Gas Service Requests Including Safety Inspections and Gas Relights

    In the aftermath of two major earthquakes and multiple aftershocks in the Mojave Desert since July 4, Pacific Gas and Electric Company (PG&E) is urging customers in Kern and San Bernardino Counties who may be without gas service to call our customer service line at 1-800-743-5000. For safety reasons, customers who may have shut off gas at their main gas valve as a precaution or who may have lost gas service as a result of the earthquakes should not attempt to turn on their gas service at the meter. Instead, customers should contact PG&E to perform a safety inspection before gas service is restored and before appliance pilots are lit.