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Stock Market & Financial Investment News

News Breaks
April 2, 2014
05:11 EDTPCGPG&E announces criminal charges filed regarding 2010 San Bruno pipeline accident
PG&E and its subsidiary, Pacific Gas and Electric Company, pledged to stay focused on building the safest and most reliable natural gas system in the country despite what it expects will be a lengthy legal process to demonstrate that federal criminal charges filed today have no merit. The charges were filed by the U.S. Attorney's Office in San Francisco in connection with the 2010 San Bruno natural gas transmission pipeline accident. The charges allege that PG&E's past operating practices violated the federal Pipeline Safety Act in areas such as record keeping, pipeline integrity management and identification of pipeline threats. PG&E Chairman and CEO Tony Earley, who was brought in to lead PG&E in 2011 after the San Bruno accident, said: "San Bruno was a tragic accident. We've taken accountability and are deeply sorry. We have worked hard to do the right thing for victims, their families and the community, and we will continue to do so. We want all of our customers and their families to know that nothing will distract us from our mission of transforming this 100-plus-year-old system into the safest and most reliable natural gas system in the country." PG&E believes that its employees did not intentionally violate the federal Pipeline Safety Act, and that even where mistakes were made, employees were acting in good faith to provide customers with safe, reliable and affordable energy.
News For PCG From The Last 14 Days
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March 24, 2015
17:04 EDTPCGPG&E names Julie Kane as Chief Ethics and Compliance Officer
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March 18, 2015
17:28 EDTPCGPG&E embraces new NTSB safety recommendations for natural gas industry
PG&E is embracing the National Transportation Safety Board’s new safety recommendations for the gas pipeline industry. These recommendations were a result of a recent safety study on integrity management of gas transmission pipelines in urban areas completed by the NTSB. PG&E has already completed or is in the process of implementing many of these new safety recommendations. Additionally PG&E has closed nine out of 12 safety recommendations in response to the 2010 pipeline accident in San Bruno. Of the three remaining safety recommendations, the NTSB considers PG&E's progress "open-acceptable response," which means acceptable progress, pending completion.
March 17, 2015
10:00 EDTPCGOn The Fly: Analyst Downgrade Summary
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07:00 EDTPCGPG&E downgraded to Equal Weight from Overweight at Morgan Stanley
March 16, 2015
15:26 EDTPCGSpark Energy acquires customer accounts in PG&E Market
Spark Energy (SPKE) announces that it has entered into a purchase and sale agreement with Entrust Energy for the purchase of approximately 33,500 customer contracts in the Pacific Gas and Electric (PCG) natural gas market in Northern California. The purchase price is $2.83M, or approximately $85 per customer. Closing of the transaction is expected in the first two weeks of April.

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