PG&E Pledges Continued Investment in Safe, Reliable, Affordable and Clean Energy Future for California

Focus is on building an industry-leading gas and electric infrastructure for the future

SAN FRANCISCO--()--Pacific Gas and Electric Company (PG&E) is continuing its progress on improving the safety and reliability of its service, as well as on efforts to keep its bills affordable and to create a cleaner, more sustainable energy future for California, the company said today at its annual shareholders meeting.

“PG&E’s vision is to be the leading utility in the country. We’ve made huge strides in our operations over the past several years, and our customers are seeing a positive difference in their experience with us. The future is very bright for our company, our customers and California”

“PG&E’s vision is to be the leading utility in the country. We’ve made huge strides in our operations over the past several years, and our customers are seeing a positive difference in their experience with us. The future is very bright for our company, our customers and California,” said PG&E Corporation Chairman, CEO and President Tony Earley.

PG&E President Chris Johns said: “PG&E is preparing today to serve our customers in Northern and Central California for the long term—including investing in new capabilities that will enable a smarter, more flexible grid of the future. With our continued investments, PG&E is helping California make real progress for the environment, our economy and the vitality of our local communities.”

Earley and Johns pointed to several examples of PG&E’s progress:

  • Gas certifications: PG&E was designated as a best-in-class gas system operator by the independent auditor Lloyd’s Register, which determined that PG&E qualified for two of the most respected international safety certifications—known as the ISO 55001 and PAS 55-1 standards. PG&E is one of the first gas utilities to receive both certifications.
  • Fast emergency response: PG&E is now in the top 10 percent of U.S. utilities for the speed of its response when customers call to report smelling natural gas.
  • Advanced leak detection: The utility is using state-of-the-art gas leak detection technology, including vehicle-mounted devices that are 1,000 times more sensitive for finding leaks than previous technology.
  • Open culture: The culture at PG&E encourages employees to raise issues or concerns about safety or compliance.
  • Record reliability: In 2014, PG&E set a company record for electric reliability for the sixth year in a row—meaning fewer and shorter outages for customers. This came despite strong winter storms and the Napa earthquake, the most powerful quake in PG&E’s service area in 25 years.
  • Cleaner energy: PG&E delivers energy that is among the cleanest of any utility in the nation. In 2014, 27 percent of its customers’ electricity came from solar, wind and other renewable energy resources, putting PG&E on track to meet California’s 33 percent goal by 2020. Combined with hydroelectric and nuclear resources, more than half of PG&E’s power comes from sources that emit no greenhouse gases.
  • Customer choice: PG&E has interconnected more than 165,000 solar rooftops—more than any other utility in the country by a wide margin. Also, PG&E won approval for a new program that will give customers a choice to purchase 100 percent renewable power.
  • Higher satisfaction: PG&E’s customer satisfaction improved last year to the highest level since 2009.

Utility of the Future

Looking forward, PG&E plans continued investments and progress. For example, the utility recently announced its support of California Governor Edmund G. Brown Jr.’s goal to reduce greenhouse gas emissions 40 percent below 1990 levels by 2030.

In addition, the pending Gas Transmission and Storage Rate Case focuses on work to help achieve some of the nation’s toughest safety standards and add capacity to support economic growth.

PG&E is also modernizing the electric grid to allow for the accelerating growth of energy technologies, from renewables and battery storage to electric vehicles and smart appliances. The utility envisions building a Grid of ThingsTM that serves as the platform for integrating and maximizing the benefits of all of these technologies.

At the same time, PG&E is also focused on keeping its service affordable for customers. Beyond industry-leading programs to encourage customers’ energy efficiency, PG&E is working with state regulators to reform residential electricity rates. The utility is also pursuing initiatives to improve the efficiency of its operations.

“I believe that no utility is better prepared to make the most of the opportunities that lie ahead for our customers and investors—or more determined to lead the way forward in this new era of energy innovation and growth—than PG&E. We look forward to continuing on this journey and working together to build a better California,” Earley said.

The meeting concluded with a report on the preliminary results of the shareholder vote on the items of business. Preliminary voting results indicate that all members of the boards of directors of PG&E Corporation and its utility subsidiary, Pacific Gas and Electric Company, will be re-elected for a one-year term; the re-appointment of the companies’ independent registered public accounting firm, Deloitte & Touche LLP, will be ratified; the companies’ executive compensation will be approved on an advisory basis; and a proposal submitted by a PG&E Corporation shareholder concerning an independent board chairman will not be approved. Final voting results will be reported in a Form 8-K Report to be filed with the Securities and Exchange Commission and will be available on the companies’ websites.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric utilities in the United States. Based in San Francisco, with more than 20,000 employees, the company delivers some of the nation’s cleanest energy to nearly 16 million people in Northern and Central California. For more information, visit www.pge.com/ and www.pge.com/en/about/newsroom/index.page.

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Pacific Gas and Electric Company
Andy Castagnola, 415-973-5930

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