p g & e corp (PCG) Key Developments
PG&E Corporation Declares Regular Cash Dividend for Fourth Quarter of 2014, Payable on January 15, 2015
Dec 17 14
PG&E Corporation declared its fourth-quarter 2014 regular cash dividend of 45.5 cents per share on the Corporation's common stock. The dividend is payable on January 15, 2015, to shareholders of record on December 31, 2014.
The California Public Utilities Commission Fines PG&E $1.05 Million for Violating Rules about Back-Channel Communications
Nov 20 14
The California Public Utilities Commission, which oversees Pacific Gas & Electric, has fined PG&E $1.05 million for violating rules about back-channel communications with the agency in January aimed at finding a more utility-friendly administrative law judge to oversee a crucial rate case. The emails were disclosed after a public records request by the city of San Bruno, where officials including Mayor Jim Ruane have been fighting the CPUC and PG&E for the release of thousands of other emails. The city was devastated by the September 2010 PG&E pipeline explosion and fire that killed eight, destroyed or damaged dozens of homes, and raised numerous questions about pipeline safety, regulatory oversight and related issues.
PG&E Corporation Unveils New Electric Distribution Control Center in Fresno, California
Nov 5 14
Pacific Gas and Electric Company has unveiled its new $28.5 million electric distribution control center in Fresno, California. The Fresno facility is the first of three new control centers - other locations will be Concord and Rocklin- that will manage PG&E's more than the 140,000 miles of electric distribution system serving nearly 16 million Californians. The new, 24,000-square-foot, operations center will enhance electric reliability and resiliency for PG&E customers throughout the Central Valley and will utilize current and future Smart Grid technologies. Electric operators from the area also played a key role in helping design the new electric grid nerve center.
PG&E Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for 2014
Oct 28 14
PG&E Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total operating revenues of $4,939 million against $4,175 million a year ago. Operating income was $1,065 million against $291 million a year ago. Income before income taxes was $929 million against $140 million a year ago. Income available for common shareholders was $811 million or $1.71 per diluted share against $164 million or $0.36 per diluted share a year ago. Earnings from operations were $820 million or $1.73 per share against $395 million or $0.88 per share a year ago.
For the nine months, the company reported total operating revenues of $12,782 million against $11,623 million a year ago. Operating income was $2,067 million against $1,429 million a year ago. Income before income taxes was $1,625 million against $981 million a year ago. Income available for common shareholders was $1,305 million or $2.79 per diluted share against $728 million or $1.65 per diluted share a year ago. Earnings from operations were $1,395 million or $2.98 per share against $1,019 million or $1.65 per share a year ago.
For 2014, the company estimated EPS on earnings from operations basis in the range of $3.45 to $3.55. The company estimated EPS on a GAAP basis in the range of $3.06 to $3.23.
PG&E Corporation to Report Q3, 2014 Results on Oct 28, 2014
Oct 17 14
PG&E Corporation announced that they will report Q3, 2014 results on Oct 28, 2014