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PG&E Submits Updated Financing Proposal for Safety and Reliability Infrastructure Investments for 16 Million Customers

Nachrichtenquelle: Business Wire (engl.)
22.04.2019, 23:08  |  461   |   |   

Today, Pacific Gas and Electric Company (PG&E) filed its Cost of Capital proposal with the California Public Utilities Commission (CPUC) designed to make sure PG&E is meeting the energy needs of its customers by attracting the critical funding necessary to invest in and increase the safety and reliability of its energy system, while also addressing the heightened risks of California’s year-round wildfire season.

PG&E and other regulated investor-owned utilities rely on capital markets to raise funds from investors to make necessary investments in infrastructure, system safety and reliability to offset upfront costs to customers.

Over the next four years, PG&E expects to fund up to $28 billion in energy infrastructure investments. Among the critical investments the Cost of Capital would support:

         

Electric and gas safety and reliability and increased system hardening:

$21 billion

New gas pipelines and electric powerlines:

$4 billion

Power generation:

$1 billion

Information technology, equipment and other facilities:

$2 billion

 

“Meeting the future energy needs of our customers is absolutely critical. In order to invest in the affordable, safe, reliable and clean energy future our customers expect and demand, investors must continue to play a vital role in providing the capital necessary to fund essential safety and reliability infrastructure upgrades. These investments allow PG&E to offset the upfront, immediate costs of these long-term projects to our customers. We know that any rate change has real impacts on our customers, and we are committed to working together with state leaders to develop solutions that will allow us to reduce the costs borne by our customers,” said Jason Wells, senior vice president and chief financial officer, PG&E Corporation.

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