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PG&E Pledges Continued Focus On Safe, Reliable, Affordable Service

Stocks in this article: PCG

SAN FRANCISCO, May 12, 2014 /PRNewswire/ -- Pacific Gas and Electric Company (PG&E) is committed to building on its progress in improving the safety and reliability of its service as it lays the foundation for meeting customers' future energy needs, the company said today at PG&E's annual shareholders meeting.

"We've implemented enormous change across the company, and we're making tremendous strides," said Tony Earley, Chairman, CEO and President of PG&E Corporation. "We know we have more work to do, and we are going to do it right. Nothing will take our focus off this commitment."

PG&E President Chris Johns said: "Safety, reliability and affordability will always be the bedrock for the relationships we have with our customers and the public. Everything we're doing today is about achieving and sustaining leading performance in these fundamentals. We're investing $6 billion a year to make our gas and electric systems among the safest, most modern and most reliable in the country."

Signs of progress

Earley pointed to several examples of PG&E's progress:

  • Safety: The recently opened state-of-the-art Gas Control Center in San Ramon allows the company to identify safety or reliability issues on the gas system and respond to them faster than ever before. Earley also noted the pipeline safety work completed over the past three years, including hydrostatic pressure testing, pipeline replacement, and new valves that allow for faster gas shut-off during emergencies.
  • Reliability: PG&E's electric customers experienced fewer outage minutes in 2013 than ever before in the company's history, thanks to investments in modernizing the grid. These investments include devices on power lines to isolate outages and reroute power automatically.
  • Affordability: PG&E is working to keep energy rates affordable for customers, including by working with legislators and regulators to reform California's rate structure. Relief for some customers who experience high summertime electric bills could come as early as next month.

Laying the groundwork

Johns spoke about a number of initiatives underway that lay the groundwork for customers' utility of the future. PG&E is building a robust, modern electric grid that can integrate all of the energy innovation that customers want to pursue, he said, such as rooftop solar, electric vehicles and smart appliances.

The meeting concluded with the tabulation of shareholder votes for members of the boards of directors of Pacific Gas and Electric Company and its holding company, PG&E Corporation. All board members, with the exception of retiring director Lee Cox, were re-elected for a one-year term. Shareholders also ratified the re-appointment of the companies' independent registered public accounting firm, Deloitte & Touche LLP.

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 / and\pge4me


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