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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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August 22, 2014
10:01 EDTPCGOn The Fly: Analyst Downgrade Summary
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07:27 EDTPCGPG&E downgraded to Hold from Buy at Argus
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August 18, 2014
17:20 EDTPCGPG&E enters not guilty plea to obstructing San Bruno blast probe, Bloomberg says
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15:08 EDTPCGPG&E enters not guilty plea to obstructing San Bruno blast probe, Bloomberg says
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August 15, 2014
17:50 EDTPCGPG&E names Laurie Giammona as senior VP, Chief Customer Officer
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August 14, 2014
14:46 EDTPCGCPUC authorizes $460M revenue increase for PG&E
The California Public Utilities Commission, or CPUC, set the revenue amount needed for Pacific Gas and Electric Company to provide safe and reliable electric and natural gas service for 2014-2016, cutting the amount requested by $700M. PG&E requested a 17.5% increase, or $1.16B, over the currently approved revenue requirement for 2014-2016. The CPUC reduced PG&Es revenue increase request by $700M, authorizing an increase of $460M, which is an increase of 6.9% over the currently authorized revenue requirement. The decision approved attrition increases of 4.57% for 2015 and 5% for 2016. PG&E requested attrition increases of 5.9% for 2015 and 6.1% for 2016, CPUC noted.

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