PG&E Corporation, short for Pacific Gas and Electric Corporation, is a publicly traded energy company based in San Francisco, California. The company was founded in 1905 and is one of the largest combined natural gas and electric energy companies in the United States. It serves millions of customers in Northern and Central California, providing them with reliable and affordable energy solutions. PG&E is listed on the New York Stock Exchange under the ticker symbol "PCG." The company's stock is included in various indices, such as the S&P 500 and the Dow Jones Utility Average.
PG&E operates through two primary segments: Pacific Gas and Electric Company (PG&E) and Pacific Energy Capital Corporation (PECC). PG&E is the main operating subsidiary and is responsible for delivering gas and electric services to its customers. PECC focuses on managing the company's non-utility operations, including investments in energy-related businesses and development of renewable energy projects.
As a regulated utility, PG&E provides natural gas and electricity to residential, commercial, and industrial customers. The company operates a vast network of transmission and distribution lines, substations, and power plants to ensure a steady supply of energy. PG&E is also actively involved in promoting energy efficiency and renewable energy initiatives to reduce environmental impact and support a sustainable future.
A significant event in PG&E's history was the 2019 bankruptcy filing. The company faced significant financial challenges due to liabilities associated with wildfires caused by its equipment. This event led to a major restructuring of the company and a renewed focus on enhancing safety protocols and infrastructure investments.