Latest news with #NorthernCalifornia
Yahoo
11 hours ago
- Business
- Yahoo
PG&E Corporation (PCG) Launches $25M Innovation Fest to Tackle Energy, Wildfire Challenges
We recently compiled a list of PG&E Corporation stands first on our list among the cheap utility stocks. PG&E Corporation (NYSE:PCG), serving about 16 million people across Northern and Central California, is advancing innovation and sustainability initiatives in 2025 and tops our list for being one of the cheap utility stocks. A key recent development is its $25 million Innovation Pitch Fest set for September in Oakland, inviting entrepreneurs and tech experts to propose scalable solutions for challenges like managing AI data center energy demands, neighborhood electrification, wildfire mitigation, and AI-driven safety enhancements. This reflects the company's commitment to using cutting-edge technology to support California's ambitious environmental goals. PG&E Corporation (NYSE:PCG) also reported surpassing its 2025 target with a 42% reduction in methane emissions, demonstrating progress in environmental performance. Operationally, the business is optimizing its natural gas transmission capacity for October 2025 to improve efficiency. A utility worker in hardhat operating a large machine in a powerplant. Supporting its modernization efforts, PG&E Corporation (NYSE:PCG) secured a historic $15 billion loan from the Biden administration to fund climate initiatives and grid upgrades. This includes projects to increase hydroelectric dam capacity and develop 'virtual power plants,' highlighting a broad strategy to modernize California's energy infrastructure while promoting clean, reliable power. While we acknowledge the potential of GOOGL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Sign in to access your portfolio
Yahoo
15 hours ago
- Business
- Yahoo
PG&E misses profit estimates hit by higher operating and maintenance costs
(Reuters) -PG&E Corp on Thursday narrowly missed Wall Street estimates for second-quarter profit, as the utility firm was hit by an increase in operating and maintenance costs, sending its shares down 1.4% in premarket trading. The company said its total operating and maintenance costs rose 3.7% to $2.86 billion, adding that wildfire-related claims, net of recoveries and the utility's wildfire fund expense increased from a year earlier. PG&E has been blamed for sparking numerous wildfires, including some of California's most deadly, and has been making investments to improve the reliability of its power grid. In a wildfire mitigation plan filed in March for the 2026-2028 period, the utility said it aims to build nearly 700 miles of underground power lines and complete 500 miles of additional wildfire safety system upgrades between 2025 and 2026. PG&E's total quarterly operating revenue fell to $5.90 billion, from $5.99 billion a year earlier. PG&E is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. The company said it added nearly 3,300 new customers in the second quarter to its electric grid system. On an adjusted basis, PG&E reported a quarterly profit of 31 cents per share for the three-month period ended June 30, missing Wall Street expectations by 1 cent per share, according to LSEG.
Reuters
15 hours ago
- Business
- Reuters
PG&E misses profit estimates hit by higher operating and maintenance costs
July 31 (Reuters) - PG&E Corp (PCG.N), opens new tab on Thursday narrowly missed Wall Street estimates for second-quarter profit, as the utility firm was hit by an increase in operating and maintenance costs, sending its shares down 1.4% in premarket trading. The company said its total operating and maintenance costs rose 3.7% to $2.86 billion, adding that wildfire-related claims, net of recoveries and the utility's wildfire fund expense increased from a year earlier. PG&E has been blamed for sparking numerous wildfires, including some of California's most deadly, and has been making investments to improve the reliability of its power grid. In a wildfire mitigation plan filed in March for the 2026-2028 period, the utility said it aims to build nearly 700 miles of underground power lines and complete 500 miles of additional wildfire safety system upgrades between 2025 and 2026. PG&E's total quarterly operating revenue fell to $5.90 billion, from $5.99 billion a year earlier. PG&E is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. The company said it added nearly 3,300 new customers in the second quarter to its electric grid system. On an adjusted basis, PG&E reported a quarterly profit of 31 cents per share for the three-month period ended June 30, missing Wall Street expectations by 1 cent per share, according to LSEG.
Yahoo
16 hours ago
- Business
- Yahoo
PG&E misses profit estimates hit by higher operating and maintenance costs
(Reuters) -PG&E Corp on Thursday narrowly missed Wall Street estimates for second-quarter profit, as the utility firm was hit by an increase in operating and maintenance costs, sending its shares down 1.4% in premarket trading. The company said its total operating and maintenance costs rose 3.7% to $2.86 billion, adding that wildfire-related claims, net of recoveries and the utility's wildfire fund expense increased from a year earlier. PG&E has been blamed for sparking numerous wildfires, including some of California's most deadly, and has been making investments to improve the reliability of its power grid. In a wildfire mitigation plan filed in March for the 2026-2028 period, the utility said it aims to build nearly 700 miles of underground power lines and complete 500 miles of additional wildfire safety system upgrades between 2025 and 2026. PG&E's total quarterly operating revenue fell to $5.90 billion, from $5.99 billion a year earlier. PG&E is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. The company said it added nearly 3,300 new customers in the second quarter to its electric grid system. On an adjusted basis, PG&E reported a quarterly profit of 31 cents per share for the three-month period ended June 30, missing Wall Street expectations by 1 cent per share, according to LSEG.
The Guardian
a day ago
- General
- The Guardian
After nearly 100 years, adult winter-run Chinook salmon seen in California river
Adult winter-run Chinook salmon have been spotted in northern California's McCloud River for the first time in nearly a century, according to the California department of fish and wildlife (CDFW). The salmon were confirmed to be seen near Ash Camp, tucked deep in the mountains of northern California where Hawkins creek flows into the McCloud River. A video posted by CDFW and taken by the Pacific states marine fisheries commission shows a female Chinook salmon guarding her nest of eggs on the river floor. Winter-run Chinook salmon is considered an endangered species by Noaa, and is marked by the organization as 'one of just nine species considered to be most at risk of extinction in the near-term'. The Winnemem Wintu Tribe has long fought the enlargement of the Shasta dam, which has hindered salmon hatching by warming water temperatures above the chilly range that salmon prefer to lay their eggs in. The introduction of hatchery-raised, winter-run salmon 'delays extinction', according to Rebekah Olstad, salmon restoration project manager for the Winnemem Wintu Tribe, with understanding a longer road lies ahead, one that hinges on full restoration of self-sufficient wild salmon. 'The salmon that exist right now, they don't know how to mountain climb, they don't know how to go up waterfalls because they're blocked,' Olstad said. 'So it's generations and generations of eggs and salmon who don't have those genes anymore to be wild.' Olstad is working to help the Winnemem Wintu achieve two further goals. Constructing a volitional passage for the salmon, meaning allowing a way for the salmon to spawn and complete a full life cycle from ocean to stream, is crucial for eco-systemic restoration, given salmon's status as a keystone species. 'Salmon are in the McLeod River, and that's a good thing. But there's no way it's for them to get out back to the ocean,' Michael Preston, a Winnemem Wintu tribal member, said. 'That's the real salmon, right? They have to go to the ocean to come back.' Wild salmon from the McCloud River were long thought by the Winnemem Wintu to be extinct. But international coverage of a Winnemem war dance protest against the Shasta dam in 2004 led to the discovery of McCloud River salmon in an unexpected place – the mountainous rivers of New Zealand. Chinook salmon were exported around the world by the Baird hatchery in the early 1900s, where some from the McCloud River took hold in New Zealand. The Winnemem Wintu are working with Noaa and the CDFW to bring the fish, and their wild genetics, back to their homeland. Salmon restoration is not unique to the Winnemem Wintu or their ancestral lands, but to the land across the western US and Canada that the fish historically swam. For the Winnemem Wintu, and other tribal nations, salmon are part of their cosmology. 'Salmon restoration is a part of a prophecy that we're following. The prayer is that it connects us back into our creation stories,' Preston said. Last year salmon began 'coming home' to the Klamath River along the Oregon-California border after a hard-fought, decades-long legal battle spearheaded by the Karuk, Klamath, and Yurok tribal nations to remove four dams along the river. The project was the largest of its kind in US history. Conversely, a historic agreement removing dams on the Columbia River, part of a step to restoring Indigenous fishing rights and revitalizing north-western fisheries, was reversed by a Trump executive order in June. Regardless of the political climate, Olstad is determined to help the Winnema Wintu keep pushing for salmon restoration. 'Every single administration has been a difficult administration for Indigenous peoples,' Olstad said. 'It doesn't mean that we're going to stop.'
