Summary
PG&E Corp. is the holding company of 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 approximately 71% of revenues in 2023. The company’s customer base consists mainly of private and small business customers. In 2023, 43% of GWh sales came from residential customers and 37% from smaller commercial customers. About 80% of bundled gas sales in 2023 came from private customers. PG&E is also a major operator of underground natural gas storage fields in California.
At the end of 2023, the utility had 26 GWh of generation capacity with its own fuel mix, of which 25% came from natural gas, 15% from hydropower, 2% from renewable energy sources and 58% from nuclear energy. 35% of the purchased electricity comes from renewable sources. The company planned to close the Diablo Canyon nuclear power plant by 2025 as management said it was not possible
