21.00 0.00 (0.00%)
Pre-Market: 7:15AM EDT
|Bid||20.90 x 2900|
|Ask||22.09 x 1100|
|Day's Range||20.81 - 21.73|
|52 Week Range||5.07 - 49.42|
|Beta (3Y Monthly)||-0.75|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
We look at the nuclear power sector and how U.S. investors can get access to this often profitable, but still controversial, sector of the energy market.
Breed said she sees an opportunity to deliver clean power to her residents while keeping rates as low as possible. “I’m pretty excited about it, and I am hopeful that we are able to do it,” Breed said in an interview with Bloomberg News Wednesday at City Hall. Breed’s remarks showed the potential for sweeping change at San Francisco-based PG&E, which filed for bankruptcy in January under the weight of an estimated $30 billion in liabilities from wildfires.
Mayor London Breed said in an interview with Bloomberg News that she’s “pretty excited” at the prospect of the city taking over its local grid from bankrupt utility PG&E Corp. A feasibility study is due later this month — and it’s not the first one, either. San Francisco has been considering taking its grid out of PG&E’s hands, off and on, since at least the 1990s. It is easy to see why San Francisco is tempted.
Californians like to think they show the rest of the country the way to a clean energy future. Inconveniently, utility power purchase agreements (PPAs), which have been the principal economic model for renewable energy in the state, face legal collapse within two weeks. The PPA crisis is one of the consequences of the bankruptcy of Pacific Gas & Electric, the state’s largest utility.
How Are Utility Stocks Placed for the Future?(Continued from Prior Part)Implied volatility On April 12, the Utilities Select Sector SPDR (XLU) witnessed an implied volatility of 11%, which was marginally lower than its 15-day average. Recently,
Incoming CEO Bill Johnson will receive an annual base salary of $2.5 million for a three-year contract.
Small commercial customers could get their electricity from San Jose’s new municipal utility, rather than Pacific Gas and Electric, as early as this summer if the City Council approves it.
How Are Utility Stocks Placed for the Future?(Continued from Prior Part)PG&EPG&E (PCG), which is seeking bankruptcy protection under Chapter 11, had one of the best weeks of the year. The stock rose almost 20% last week after Governor
California regulators expressed skepticism Monday that Pacific Gas & Electric Corp.'s new leaders have enough professional experience to instill the deep corporate culture of safety they say the company has lacked. The utility has been blamed for more than a dozen of California's most destructive wildfires in the past two years. The five-member California Public Utilities Commission questioned veteran PG&E board member Richard Kelly about the safety qualifications of 10 new board members and incoming chief executive Bill Johnson, who starts May 1.
Californian utility stocks soared Friday, April 12, after the release of a wildfire report. Power up profits with these three trading ideas.
The creation of a fund that would allow utilities to pay for wildfire damage claims sent PG&E Corp shares soaring nearly 12 percent before closing 3.95 percent higher on Friday. "PG&E is a textbook example of what happens when a utility does not invest in safety after numerous deadly reminders to do so over many years," a report released by Newsom said. PG&E said in a statement that it is "embracing the calls for change," and committed to resolving wildfire victims' claims fairly and expeditiously.
The governor issued a report Friday outlining possible solutions for how costs for destructive wildfires will be covered -- including a possible fund that utilities can tap into -- that sent the clearest signal yet that the state will move to keep its power companies solvent. The wide-ranging report gave Wall Street optimism that California will work with utilities to solve an intractable problem: who pays for wildfires as climate change threatens to make them deadlier and more frequent. Now, the task of developing a concrete approach falls to lawmakers, who need to work quickly as another fire season nears.
California Gov. Gavin Newsom on Friday released a wildfire report that slams PG&E for its role in major blazes and suggests the state could push to break up the utility. The also said wildfire costs should be spread more "broadly," beyond utilities and even to include government.
California Gov. Gavin Newsom releases a wildfire report that slams PG&E for its role in major blazes and suggests the state could push to break up the utility. Shares of PG&E shoot up 20% in trading Friday after the report is released. LOS ANGELES — California Gov. Gavin Newsom on Friday released a wildfire report that slams PG&E PCG for its role in major blazes and suggests the state could push to break up the utility.
Governor GavinNewsom’s “strike force” released a long-awaited report and although it singled out PG&E for fault, it wasn’t all bad news.
The company also appointed former U.S. ambassador Jeffrey Bleich as chair of the board of its subsidiary Pacific Gas and Electric Company. Bill Johnson, who was appointed as PG&E's chief executive earlier in April, will start his role from May 1, the company said.
The discussions between PG&E and BlueMountain representatives underscore the restructuring challenges the company faces since filing for bankruptcy in January to address potentially crushing liabilities from catastrophic wildfires. The talks come days after PG&E named a new chief executive and unveiled plans to appoint 10 directors to a newly formed board in response to pressure from other shareholders. California Governor Gavin Newsom criticized the slate as dominated by hedge-fund financiers, out-of-state executives and others lacking experience operating utilities.
New York-based BlueMountain efforts could address concerns expressed by California Governor Gavin Newsom that the board appointments announced last week lacked the necessary expertise. Talks are ongoing and there is no guarantee an agreement can be reached to see any of BlueMountain’s nominees join the board, the people said. Representatives for PG&E and BlueMountain declined to comment.
A U.S. bankruptcy judge on Tuesday deferred a ruling on whether to approve a PG&E Corp plan to pay up to $350 million in bonuses to 10,000 employees, saying he wants more details from the California power producer that is facing bankruptcy following last year's wildfires. Judge Dennis Montali of the U.S. Bankruptcy Court in San Francisco set April 23 as the next date for a hearing on the plan, saying he wants PG&E to give him a "tutorial" on it. The plan covers 2019 and takes the place of a previously proposed 2018 bonus program that the California power provider scuttled after criticism from wildfire victims and their lawyers.
PG&E Corp. stock’s slide has continued this year, and while the dust may be beginning to clear on where the utility stands in terms of recent wildfires, Morgan Stanley warns that potential liabilities for future outbreaks are the next worry for shareholders.