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PG&E Corporation (PCG)
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Dividend for preferred stock but isn't PCG common stock? Do we get a dividend?
They will have increasing better quarters from here on out. They will end up on S&P 500 they will be paying a dividend again and the PPS will go back to 60. recession or no recession.
Tesla Inc has partnered with utility firm PG&E Corporation to launch a new virtual power plant that will pay Powerwall owners to help boost the electric grid during brownouts in California, Electrek reported on Thursday.
What Happened: The virtual power plant (VPP) consists of distributed energy storage systems, like Tesla Powerwalls, that can double up as power grid services during shortages.
Austin, Texas-based Tesla had in July last year launched the VPP in California. The initiative drew Powerwall owners to join in voluntarily without compensation to let the VPP pull power from their battery packs when the grid needed it.
The Elon Musk-led company has now gone a step further.
"Opt-in to the Tesla Virtual Power Plant (VPP) with PG&E and your Powerwall will be dispatched when the grid needs emergency support," the company's VPP statement reportedly said.
What's On Offer? The pilot planned Emergency Load Reduction Program (ELRP) will pay $2 for every additional kWh that a Powerwall delivers during an event.
The report estimated that depending on the events and the number of Powerwalls homeowners have, they could earn anywhere from $10 to $60 per event or even more for bigger systems.
Tesla also said the partnership with PG&E would help stabilize California's grid during emergencies and maintain energy security among other benefits.
Currently, there are about 50,000 Powerwalls that could be eligible for this VPP, which add up to a significant 500 MWh of energy capacity than can be distributed in any event.
You could say and you would be right that this company is the single most important company in the USA
No business no manufacturing no nothing with out power PCG supplies most of California and surrounding areas. it's power plants extremely well run have worked there. upgrades to system they can no longer be held on neglect as they are upgrading. Trust me I worked there this is a screaming buy and analysts know it
Anyone have a clue why the price and volume went through the roof Friday?
last thought then I will be quiet again If you bought 200,000 in stock now at this low price in a year or 2 when this is back at 50 you will be millionaire. No way am I going to sell if anything will buy more. There is almost no where else to see this kind of return. Company had a rough spell dropped 82% but that is behind them and they have the support of customers, and government they have turned back to making profits as you look at Q's you see they have been each getting better. Company is massive vital to California the 5th largest economy in the world. what are there 126 countries and California has economy bigger than 121 of them. They are basically the only game in town. #1 in being vital to have. I suggest you load up and hold onto this stock. It is way cheap now. Should never have dropped in this last stock slaughter because it was already down low. Ok enough Company will have very good report on July 27th. You decide.
I am retired just recently but I worked at PCG as an Electrical and Instrumentation Engineer Upgrading Safety systems. Let me tell you that now PCG is probably the safest place to work and has the best and safest electrical distribution in the World. I have worked at plants world wide over 80 plants.
Do you Know why if we go to war first thing we take out is Electric Grid... It cripples the opponent like cutting off legs. Yes I'm x military also. Everybody must have electricity.
PCG has all types of power production, Nuclear , wind, water, solar, gas etc.
They can no longer be accused of neglect with the state of the art upgrades made and they are doing everything humanly possible to continue to make it even better.
Here is your chance to get in on the ground floor of an outstanding company one I believe in 100%. And you will be greatly rewarded down the road. They care about you the stock holder , they care about their employees, they care about their customers.
Have a great day.
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The head of a trust established to pay billions of dollars to victims of wildfires caused by Pacific Gas & Electric equipment is resigning even as payouts continue to lag.
John Trotter, a retired California appellate court judge, announced Tuesday that he is resigning as trustee of the PG&E Fire Victim Trust as of June 30.
Trotter headed the fund since it was established in 2020 and said he had promised his family he would step down after two years. Cathy Yanni, who served as the fund's claims administrator, will become the new trustee.
“Throughout these past two years, we have devoted our fulltime attention to addressing the financial and other hardships of thousands of deserving fire victims," Trotter said in a letter to fire victims. “As stated above, progress has been made, but there is still more to be done."
He promised the transition would be “seamless” and wouldn't interrupt processing claims.
The trust was established to provide $13.5 billion to compensate some 70,000 victims of Northern California wildfires in 2015, 2017 and 2018, including a 2018 blaze that killed 85 people and largely destroyed the town of Paradise, northeast of San Francisco.
The fires were blamed on PG&E’s long-neglected electrical grid, and the company was forced into bankruptcy, from which it emerged in 2020.
The trust is run independently of PG&E but is funded by money and stock in the nation’s second-largest utility, which could be sold. However, PG&E share prices have sagged and the trust is about $2 billion short of its required funding.
Last year, the trust sought a $1.5 billion loan from the state but it hasn't been granted.
In his letter, Trotter said 250,000 claims have been filed, including 400 death claims and more than 100,000 for emotional distress. The trust has authorized about $4.5 billion in payments, he said.
Trotter's resignation announcement comes two months after the trust parted ways with Patrick McCallum, a lobbyist it hired to help secure the state loan. That followed news reports that the California State University system paid $600,000 to settle a lawsuit brought by a former school provost who said she faced retaliation for reporting complaints by female university employees that McCallum sexually harassed them at a party. McCallum denied the allegations.
pct going to have great q's going forward get on s&p 500 restart dividends here is your chance to buy 60 to 80 stock for 10 bucks
Have to admit PCG is a day traders dream - each sudden fall is followed by a sudden recovery.
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At yesterdays low of 10.91, I think that PG&E will have easily outperformed the market over 6 months. I see three factors affecting stock performance: earnings strength, relative valuation, and todays price drop. EPS increased to about $1.08 over the past 5 quarters indicating an improving growth rate. Analyst forecasts have also been raised.
There will always be legal action against this company, but their legal team fights these battles weekly and with much success. Yes millions of dollars are lost because of these legal battles, but that is part of running this type of company. They are off probation and with the current leadership team, will not be in that position again....there are process now in place AND lots of external oversight!
As for fire risks, it will always be there, but so much has been put in place to mitigate the company's financial risk that I never worry about it.
As for the Fire Victims Trust, it is well into selling the remaining stock shares. On the magic week they are done selling those remaining stock shares, we will see a nice sudden steady rise up.
I aggressively trade this stock on days it drops unexpectedly, but will always keep a nice long position.....because one day....the price will be much higher and there will be a dividend.
good luck all
Utilities are sensitive to rising interest rates. On top of that spending billions to bury power lines. With that said I'm long. PCG has a near monopoly in Commiefornia. It's called buy low and sell high for a reason. If you're looking for instant gratification you're in the wrong stock. Moderate risk but if you're looking out 5 to 10 years I think you'll be rewarded.
You can't do anything no stores, no electric vehicles, no production , no Manufactuing, no phones, no computers, no nothing it is the most basic need. No economy nothing without electricity. #1 must have item.
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So what is value of this company it is Priceless to California it is their economy and life support.
Electric companies run this country everything. government military industry everything.
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