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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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August 27, 2015
18:49 EDTPCGCalifornia Utilities Commission investigates PG&E safety practices
The California Public Utilities Commission began a formal investigation Thursday into whether Pacific Gas and Electric has corporate governance, clearly documented organizational goals and objectives, and work procedures that "prioritize and improve safety." CPUC President Michael Picker commented, "A public utility's track record of safely operating its system is dependent on more than messages and slogans. An effective safety culture is shaped by... most of all, the accountability set by the top leadership." The CPUC will evaluate PG&E's organizational culture, governance, policies, practices, and accountability metrics in relation to its record of operations, including its record of safety incidents. The CPUC will analyze the methods used by PG&E's board of directors and executive leadership to hold themselves and management accountable for their decisions and actions, including executive compensation policies. "PG&E has invested in safety improvements, added new board members with safety experience, and reorganized to prioritize gas operations safety. But accidents and events affecting the safety of the general public, its customers, and others continue to occur on PG&E's system, prompting the CPUC to take a deeper look." The CPUC's safety and enforcement division will retain the services of an independent expert consultant with experience in auditing corporate governance and accountability, not to exceed $2M. PG&E will reimburse the CPUC for the consultant services, said the Commission. Reference Link
August 19, 2015
16:47 EDTPCGPG&E names Melissa Lavinson as Chief Sustainability Officer
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