Texas wildfires follow Warren Buffett's warning about the ‘specter of zero profitability' looming over utilities—and not just in California [Fortune]
Pacific Gas & Electric Co. (PCG)
Last pacific gas & electric co. earnings: 5/1 08:21 am
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Source: Fortune
Texas officials on Thursday blamed the state's largest-ever fire on electrical lines sparking in dry brush, fed by blasting winds into a million-acre inferno. The same combination of high winds, power lines and dry grass last year may have been responsible for razing the seaside town of Lahaina on Maui , a place once considered too lush to burn. Fast-moving fires blamed on utility equipment leveled homes in Colorado in 2021 and Oregon in 2020. Across a vast swath of the western US, climate change and aging infrastructure have forced utilities to confront a harsh new reality that threatens both the communities they serve as well as their own survival. The danger first became clear in California, where the state's largest utility — PG&E Corp. — tumbled into bankruptcy in 2019 after fires sparked by its power lines killed dozens of people in wine country and the Sierra Nevada foothills. But it's spreading, as a warmer and often drier climate leaves landscapes primed to burn. “We're
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PCG
News
- PG&E Co. (NYSE: PCG) had its price target raised by analysts at Barclays PLC from $20.00 to $21.00. They now have an "overweight" rating on the stock.MarketBeat
- PG&E First Quarter 2024 Earnings: Revenues Disappoint [Yahoo! Finance]Yahoo! Finance
- Economic And Business Impacts Of FTC's Noncompete Ban [Forbes]Forbes
- PG&E CEO Says Soaring Power Bills Are Poised to Start Dropping [BNN Bloomberg (Canada)]BNN Bloomberg
- Warren Buffett 'got it wrong' on California fire risk, PG&E CEO says [Seeking Alpha]Seeking Alpha
PCG
Earnings
- 4/25/24 - Beat
PCG
Sec Filings
- 4/25/24 - Form 8-K
- 4/25/24 - Form 10-Q
- 4/4/24 - Form ARS
- PCG's page on the SEC website