PG&E Corp
NYSE:PCG

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PG&E Corp
NYSE:PCG
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Price: 16.285 USD 0.4% Market Closed
Market Cap: 42.6B USD

PG&E Corp
Investor Relations

PG&E Corporation, short for Pacific Gas and Electric Company, is an integral part of California's energy landscape, navigating both opportunities and challenges with a storied history that traces back to 1905. Operating out of San Francisco, this utility company plays a crucial role in delivering electricity and natural gas to millions of customers spread across Northern and Central California. It achieves this through an extensive network of power plants, substations, and an intricate system of transmission lines and pipelines. The company's core business model is built on regulated utility operations, which ensures steady revenue streams through service bills from customers who rely on PG&E for their day-to-day energy needs.

Making money for PG&E involves a complex dance between operational efficiency and regulatory compliance. Revenue generation primarily stems from the rates sanctioned by regulatory bodies like the California Public Utilities Commission, which approves the costs that PG&E can pass on to its customers, covering infrastructure investments, maintenance, and service expansion. The company's financial performance is heavily tethered to its ability to maintain, upgrade, and secure its vast infrastructure while navigating regulatory and environmental challenges. Despite its essential role, PG&E has faced significant hurdles, including financial struggles stemming from legal liabilities related to wildfire incidents. Yet, through these challenges, the company continues to adapt, striving to fulfill its commitment to providing reliable, sustainable energy solutions while securing economic viability.

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Earnings Calls

2024 Q3
Nov 7, 2024
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PG&E Reports Strong Earnings Growth and Increased Capital Plans Amid Rising Demand
2024 Q3
Nov 7, 2024

In Q3 2024, PG&E's core earnings rose to $0.37, totaling $1.06 year-to-date. The company narrowed its 2024 earnings guidance to $1.34-$1.37, firming up a 10% growth target. Anticipating higher customer demand, PG&E added $1 billion to its five-year capital plan, increasing it to $63 billion and raising 2025 EPS growth guidance from 9% to 10%. The new EPS range for 2025 is set at $1.47-$1.51, with long-term growth anticipated at least 9% annually through 2028. Investing in electrification has driven higher customer connection requests and operational efficiencies, emphasizing PG&E's commitment to both profitability and customer affordability.

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Management

Ms. Carolyn J. Burke
CFO & Executive VP

Carolyn J. Burke is an accomplished business executive known for her expertise in financial management, strategic planning, and operational leadership. She has held significant roles in various organizations, bringing a wealth of experience to her positions. At PG&E Corporation, she served as the Executive Vice President and Chief Financial Officer. In this role, Burke was responsible for overseeing the company’s financial operations, which include accounting, treasury, tax, and finance functions, playing a critical role in shaping the financial strategies and ensuring fiscal responsibility. Before PG&E, Burke amassed significant experience in different industries, enhancing her versatility as a leader. She previously worked with Chevron, where she gained valuable insights and expertise in the energy sector. Additionally, she has served in high-level finance and operational roles at Dynegy and Mirant Corporation. Burke’s professional background is complemented by a strong educational foundation, including degrees pertinent to her field of work. Known for her strategic vision and ability to drive financial performance, she has played integral roles in corporate transformation and value creation in her career. Her leadership style is characterized by a focus on sustainable growth and resilience, particularly in complex and challenging business environments. Through her work, Burke has made significant contributions to the companies she has been part of, exemplifying strong financial stewardship and strategic acumen.

Ms. Stephanie N. Williams
Vice President and Controller

Stephanie N. Williams serves as the Executive Vice President, Engineering, Planning & Strategy at PG&E Corporation, one of the largest combined natural gas and electric companies in the United States. In this role, she is responsible for overseeing the company's strategic planning and engineering initiatives, ensuring the reliability and safety of PG&E's extensive infrastructure. Williams brings years of experience in the energy sector, focusing on innovation and efficiency. Her leadership is crucial in steering PG&E toward a more sustainable and resilient future, balancing environmental considerations with technical and operational needs. Her tenure highlights a commitment to transforming the energy landscape and addressing the challenges of modern utility services.

Mr. Ajay Waghray
Executive VP & Chief Information Officer

Ajay Waghray is a recognized leader in the field of information technology with extensive experience directing IT strategies across various industries. At PG&E Corporation, he serves as the Senior Vice President and Chief Information Officer (CIO). In this role, he is responsible for overseeing the enterprise-wide technology initiatives critical to furthering the company's strategic objectives, ensuring system reliability, and enhancing customer service. Before joining PG&E, Ajay Waghray held significant positions in various reputable organizations. He played a pivotal role as the CIO at several major corporations, bringing transformative changes to their IT infrastructure and operations. Waghray is known for his strategic leadership in digital transformations, which involves integrating new technologies to improve efficiency, security, and innovation within a company's operations. His career is marked by a strong track record of developing and implementing technological solutions that align with business goals, fostering innovation, and guiding teams through significant operational and technological changes. Waghray's efforts are instrumental in driving PG&E's mission to deliver safe, reliable, and affordable energy, by leveraging cutting-edge technologies and data-driven insights. Waghray's educational background and professional affiliations contribute to his expertise and the breadth of his influence in the industry, further establishing him as a prominent figure in information technology leadership.

Mr. Jonathan P. Arnold
Vice President of Investor Relations

Jonathan P. Arnold is a senior executive at PG&E Corporation, where he has held various leadership roles. As an integral part of the company, he has contributed to the strategic direction and financial management of PG&E, one of the largest combined natural gas and electric energy companies in the United States. Arnold’s expertise in corporate finance and operations has been vital in steering the company through regulatory compliance and achieving its business objectives. His leadership has been instrumental in enhancing the company's operational efficiency and sustainability efforts while managing risks associated with the energy sector. He holds a degree in finance and has extensive experience in both energy markets and corporate strategies.

Mr. Kaled Awada
Executive VP & Chief People Officer

Kaled Awada is known for his role at PG&E Corporation. As a senior executive within the company, he has been influential in overseeing key operational and strategic initiatives, particularly in areas concerning safety, infrastructure management, and service reliability. He has a strong background in engineering and has been integral in implementing advanced technological solutions to enhance system performance and customer satisfaction. His leadership has been vital in driving PG&E's efforts toward sustainability and resilience in the face of environmental challenges, showcasing his commitment to fostering an innovative and efficient energy sector.

Ms. Carla J. Peterman
Executive Vice President of Corporate Affairs & Chief Sustainability Officer

Carla J. Peterman is a prominent figure in the energy sector, known for her significant contributions to policy and corporate leadership. She serves as the Executive Vice President and Chief Sustainability Officer at PG&E Corporation. In her role, she is responsible for overseeing PG&E's sustainability initiatives, guiding the company's strategy related to clean energy, and ensuring compliance with environmental standards and practices. Before joining PG&E, Peterman held several high-profile positions, including serving as a Commissioner on the California Public Utilities Commission (CPUC) from 2012 to 2018. During her tenure there, she played a critical role in shaping policies on energy efficiency, renewables, electric vehicles, and energy storage. Peterman was also a member of the California Energy Commission, where she made history as the lead commissioner for renewables and transportation and was the first African-American woman to serve on the commission. Peterman has an impressive academic background, holding a Doctor of Philosophy in Energy and Resources from the University of California, Berkeley. She also earned a Master of Science and a Master of Business Administration from Oxford University, where she was a Rhodes Scholar. Throughout her career, Peterman has been recognized for her leadership and dedication to advancing clean energy solutions and sustainable practices. Her work has had a significant impact on California's energy policies and continues to influence the broader energy industry through her role at PG&E.

Mr. Matthew B. Hayes
VP of Enterprise Health & Safety and Chief Safety Officer

Matthew B. Hayes is currently Vice President, Controller, and Chief Accounting Officer at PG&E Corporation. In his capacity, he oversees all accounting functions, including corporate accounting, internal and external reporting, and financial controls. Hayes' prior experience before joining PG&E in July 2021 includes roles of growing responsibility in large organizations such as PricewaterhouseCoopers and more than five years at Pacific Gas and Electric Company, during his first stint with the utility. His extensive industry knowledge and leadership acumen make him a key figure in managing and reporting the financial operations of PG&E.

Mr. Alejandro T. Vallejo
Chief Risk Officer and Senior VP of Ethics & Compliance

Alejandro T. Vallejo is a recognized executive at Pacific Gas and Electric Company (PG&E Corp). He serves as the Vice President of Safety and Health, leading initiatives critical to the safety culture and operational integrity of the organization. Vallejo is responsible for implementing strategies that prioritize the well-being of both employees and the communities PG&E serves. With decades of experience in safety management and a strong commitment to industry best practices, Vallejo plays a crucial role in reinforcing PG&E’s safety protocols and ensuring compliance with regulatory standards. His leadership is integral in fostering an environment where safety is at the forefront of the company's operations. Vallejo's contributions are significant in advancing PG&E's mission to deliver safe, reliable, and affordable energy to its customers.

Mr. Brian M. Wong J.D.
VP, Deputy General Counsel & Corporate Secretary

Brian M. Wong, J.D., serves as an executive at PG&E Corporation, one of the largest combined natural gas and electric energy companies in the United States. He holds the position of Executive Vice President, and his role involves oversight of strategic initiatives and providing legal counsel. Wong brings a wealth of experience in legal practices and corporate governance, having a Juris Doctor degree that complements his extensive career in law and energy sectors. His leadership skills are complemented by his ability to navigate the complex regulatory landscape impacting the energy industry. Wong is recognized for his contributions to regulatory compliance, risk management, and strategic planning at PG&E.

Ms. Margaret K. Becker
VP & Treasurer

Margaret K. (Molly) Becker serves as the Director of Operations at Pacific Gas and Electric Company (PG&E). In her role, Becker is responsible for overseeing the company's operations to ensure the delivery of safe, reliable, and sustainable energy to customers. She is recognized for her expertise in utility operations management and her commitment to enhancing operational efficiency and safety at PG&E. With her extensive experience in the energy sector, Becker plays a critical role in driving strategic initiatives and operational improvements within the organization. Her leadership is instrumental in PG&E's efforts to modernize infrastructure and implement advanced technologies for better service delivery.

Contacts

Address
CALIFORNIA
San Francisco
77 Beale St, PO Box 770000
Contacts
+14159731000.0
www.pgecorp.com