Summary
PG&E Corp. is the holding company for Pacific Gas & Electric Co., an investor-owned utility. The utility provides electricity to 5.5 million accounts and natural gas to 4.5 million accounts in northern and central California. Electricity accounted for about 71% of 2023 revenues. The company’s customer base is weighted toward residential and small business customers. In 2023, 43% of GWh sales was from residential customers, and 37% was from smaller commercial customers. About 80% of 2023 bundled gas sales was from residential customers. PG&E is also a large operator of underground natural gas storage fields in California.
As of the end of 2023, the utility had 26 GWh of generating capacity with an owned generation fuel mix including 25% from natural gas, 15% hydropower, 2% renewable, and 58% nuclear. Purchased power is 35% renewably sourced. The company had planned to shut down the Diablo Canyon nuclear plant by 2025 as management said that it could not a
