PG&E Launches Strategic Review, Plans $2 Bln 2027 Investment Deferral

PG&E

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Kaufen Verkaufen

(RTTNews) - PG&E Corp. (PCG) on Wednesday launched a strategic review of regulatory, financial, operational and strategic alternatives.

The review will assess how the company is organized and financed to become financially stronger and attract affordable, long-term investment.

The company said it aims to maintain safety, improve customer affordability and strengthen energy system reliability and resiliency.

The company plans to defer approximately $2 billion of planned 2027 investments to reduce debt financing needs and customer financing costs.

The company still expects to invest approximately $11.4 billion in California in 2027 while maintaining critical safety and compliance programs.

The company reaffirmed its full year 2026 adjusted Core earnings guidance of $1.64 to $1.66 per share. The company initiated full year 2027 guidance of $1.78 to $1.82 per share.

The company will also reassess its long-term Core earnings per share growth rate and 2028-2030 capital investment and rate base outlooks.

In the pre-market trading, PG&E Corp is 0.57% lesser at $13.97 on the New York Stock Exchange.