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Nevelyn Black is an independent writer with a background in broadcast and a keen interest in renewable energy.  In the last few years, she transitioned from celebrity interviews and film shoots...

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How will PG&E address latest accusation of vegetation and asset management deficiencies?  Days after regulators express concern over the utility's wildfire safety measures, thousands of Californians were without power.  Utility officials implemented safety-related shutoffs to prevent equipment from sparking wildfires amid strong Santa Ana winds. Facing extreme weather and constant criticism, how will the investor-owned utility survive?

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Rao Konidena's picture
Rao Konidena on Nov 28, 2020

Nevelyn

I don't know how PG&E will address this accusation. But to answer your second question on whether this IOU will survive, I went and looked at the stock price of PG&E and First Energy.

First Energy had tree trimming as one of the problems in the August 14 2003 blackout. Around mid-June 2003, FE had a $40 stock price. By the end of Aug that price fell to $30.

On the other hand, PG&E stock price is steadily increasing since 2000 with a high of $70 on Sep 15, 2017. Of course, the price hovers over $10 in the past few months.

So, to answer your second question - I would guess that based on how FE survived the 2003 blackout, PG&E would also survive.

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Nevelyn Black on Dec 1, 2020

Thank you for sharing this information on PG&E's market value.  These numbers definitely shed light on the situation.

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