This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

$2 Billion To Diverse Suppliers Marks New Record For PG&E

Stocks in this article: PCG

SAN FRANCISCO, March 4, 2013 /PRNewswire/ -- Pacific Gas and Electric Company (PG&E) today announced that it spent more than $2 billion with diverse suppliers in 2012—a record high for the company—accounting for 38.5 percent of its total procurement budget. The total was twice what the utility spent on diverse suppliers in 2010.

"In 2012, we reached a tremendous milestone in our commitment to the full participation of diverse businesses as suppliers to PG&E," said Chris Johns, president of PG&E. "Through our work to deliver safe, reliable and affordable gas and electric service to our customers, we are supporting economic development, job creation and diversity in the communities where our customers live and work."

PG&E has been committed to diversity and inclusion for more than three decades. The company has developed one of the state's leading supplier diversity programs, which culminated in a decade-long trend of consecutive year-over-year growth in diverse spending. 

"PG&E truly understands the value of supplier diversity," said Bob Mulz, chairman of the Elite SDVOB Network. "Representing the most diverse group in the nation, Elite SDVOB is delighted to partner with PG&E to further promote and support the advancement and development of diverse-owned businesses."

"We appreciate all of PG&E's ongoing efforts to invest in the communities they serve," said Tracy Stanhoff, president of American Indian Chamber of Commerce of California. "PG&E's Supplier Diversity Program has assisted our Native businesses with capacity building workshops and real opportunities fostering mutual success and sustainable growth."

PG&E partners with diverse suppliers in part to generate innovation and increase competition while contributing to their revenue growth. The utility plays a significant role by providing small businesses with technical assistance training. With the emergence of new technologies in the utility industry, PG&E is also focused on helping diverse suppliers prepare to compete in a changing supply chain.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs