PG&E Overview
Nearly
16 million Number of Californians we serve every day
16 million Number of Californians we serve every day
PG&E Corporation is an energy-based holding company whose primary operating subsidiary is Pacific Gas and Electric Company, an investor-owned public utility that delivers some of the nation’s cleanest energy. Throughout this report, when we refer to “PG&E,” we are discussing all of PG&E Corporation and its subsidiaries, including Pacific Gas and Electric Company.
- Headquarters Location
- San Francisco, California
- Service Area
- 70,000 square miles in Northern and Central California
- Service Area Population
- Nearly 16 million people
- Customer Accounts
- 5.3 million electric distribution accounts:
- 4.6 million residential
- 0.7 million commercial, industrial and other
- 4.4 million natural gas distribution accounts:
- 4.2 million residential
- 0.2 million commercial and industrial
- Employees
- 21,166 regular employees (as of December 31, 2013)
- Approximately 13,150 employees are covered by collective bargaining agreements with three labor unions:
-
- International Brotherhood of Electrical Workers (IBEW), Local 1245, AFL-CIO
- Engineers and Scientists of California/International Federation of Professional and Technical Engineers (ESC/IFPTE), Local 20, AFL-CIO and CLC
- Service Employees International Union (SEIU), Local 24/7
- System
-
- 7,677 MW of owned hydroelectric, nuclear, natural gas, solar and fuel cell generation
- Approximately 159,115 circuit miles of electric transmission and distribution lines
- Approximately 49,200 miles of natural gas transmission and distribution pipelines
| Net Operating Capacity of Owned Generation Facilities1 | |
|---|---|
| Facility | Net Operating Capacity (MW) |
| Fossil Fuel-Fired Plants | |
| Colusa Generating Station2 | 657 |
| Gateway Generating Station2 | 580 |
| Humboldt Bay Generating Station2 | 163 |
| Fuel Cell Facilities | 3 |
| Other Plants | |
| Diablo Canyon Power Plant3 | 2,240 |
| Hydroelectric Facilities | 3,882 |
| Solar Photovoltaic Facilities | 152 |
| Total | 7,677 |
- 1 As of December 31, 2013
- 2 Natural gas power plant
- 3 Nuclear power plant
| General Utility Production Statistics | |||
|---|---|---|---|
| 2011 | 2012 | 2013 | |
| Total Electricity Generated (GWh net)1 | 35,353 | 31,671 | 31,547 |
| Fossil Fuel-Fired Plants (GWh net) | 5,105 | 6,309 | 6,109 |
| Colusa Generating Station (GWh net) | 1,981 | 2,697 | 2,536 |
| Gateway Generating Station (GWh net) | 2,648 | 3,172 | 3,182 |
| Humboldt Bay Generating Station (GWh net) | 469 | 417 | 373 |
| Fuel Cell Facilities2 | 7 | 23 | 18 |
| Other Plants (GWh net) | |||
| Diablo Canyon Power Plant (GWh net) | 18,566 | 17,728 | 18,041 |
| Hydroelectric Facilities (GWh net) | 11,654 | 7,469 | 7,119 |
| Solar Photovoltaic Facilities (GWh net) | 28 | 166 | 279 |
| Electricity Purchased (GWh) | 36,762 | 48,978 | 49,837 |
| Other Electric Supplies (GWh)3 | 2,748 | 1,238 | 177 |
| Retail Electricity Sales (GWh)4 | 74,864 | 76,205 | 75,705 |
- 1 Net of electricity used to operate plants.
- 2 Became operational in September 2011.
- 3 Represents energy purchased by the California Department of Water Resources (DWR) from various energy suppliers for the benefit of the Utility’s customers. The DWR remains legally and financially responsible for its power purchase contracts. The Utility acts as a billing and collection agent for the DWR to enable the DWR to pay for its energy purchases
- 4 Excludes sales to direct access and community choice customers, and sales to railroads and railways.
| Natural Gas Throughput | |||
|---|---|---|---|
| 2011 | 2012 | 2013 | |
| Total Natural Gas Throughput (million cubic feet or MMcf)1 | 804,255 | 944,575 | 951,601 |
1 Includes interdepartmental natural gas sales for the purpose of electric generation but excludes other interdepartmental natural gas sales.
Financial Performance
The financial information below is derived from PG&E Corporation’s Consolidated Financial Statements, which include the accounts of PG&E Corporation, the Utility and other wholly owned and controlled subsidiaries.
| Financial Highlights—PG&E Corporation (unaudited, in millions, except share and per share amounts) |
|||
|---|---|---|---|
| 2012 | 2013 | ||
| Operating Revenues | $15,040 | $15,598 | |
| Income Available for Common Shareholders | |||
| Earnings from operations1 | 1,367 | 1,210 | |
| Items impacting comparability2 | (551) | (396) | |
| Reported Consolidated Income Available for Common Shareholders | 816 | 814 | |
| Income Per Common Share, Diluted | |||
| Earnings from operations1 | 3.22 | 2.72 | |
| Items impacting comparability2 | (1.30) | (0.89) | |
| Reported Consolidated Net Earnings Per Common Share, Diluted | 1.92 | 1.83 | |
| Dividends Declared Per Common Share | 1.82 | 1.82 | |
| Total Assets at December 31, | $52,449 | $55,605 | |
| Number of Common Shares Outstanding at December 31, | 431,436,673 | 456,670,424 | |
- 1 “Earnings from operations’’ is not calculated in accordance with GAAP and excludes items impacting comparability as described in Note (2) below.
- 2 “Items impacting comparability’’ are those items that management believes do not reflect the normal course of operations. PG&E Corporation’s earnings from operations for 2013 and 2012 exclude net costs of $645 million and $812 million, pre-tax, that the Utility incurred in connection with natural gas matters that are not recoverable through rates, as shown in the table below. These amounts included pipeline-related expenses to validate safe operating pressures and perform other activities in accordance with the Utility’s Pipeline Safety Enhancement Plan (PSEP), and costs to identify and remove encroachments from the Utility’s transmission pipeline rights-of-way and perform other gas-related work. Costs incurred also included charges for disallowed PSEP capital expenditures, fines related to natural gas enforcement matters, and increases in the accrual for third-party claims arising from the San Bruno accident on September 9, 2010, which were partially offset by insurance recoveries. Costs for 2012 also included a contribution to the City of San Bruno to support the community’s recovery efforts after the accident.
| (pre-tax) | 2012 | 2013 |
|---|---|---|
| Pipeline-related expenses | $477 | $387 |
| Disallowed capital expenditures | $353 | $196 |
| Accrued penalties | $17 | $22 |
| Third-party claims | $80 | $110 |
| Insurance recoveries | ($185) | ($70) |
| Contribution to City of San Bruno | $70 | — |
| Natural gas matters | $812 | $645 |
PG&E Corporation’s earnings from operations for 2013 and 2012 also exclude $7 million and $106 million, pre-tax, for environmental remediation costs associated with the Utility’s natural gas compressor station site located near Hinkley, California. (For more information, see PG&E Corporation’s and Pacific Gas and Electric Company’s Annual Report on Form 10-K for the year ended December 31, 2013 that has been filed with the Securities and Exchange Commission.)
Safety Performance
At PG&E, nothing is more important than public and workforce safety. More than ever, we are working to create a culture in which safety is our highest value, every employee feels encouraged to openly raise and address safety issues, and no one gets hurt.
Among many highlights, we have:
- Enhanced our governance structure to create greater alignment in the way we develop and implement safety strategies—from our Chairman’s Safety Council to our grassroots teams.
- Completed a comprehensive assessment of PG&E’s safety culture, which we have used to create a multi-year roadmap to guide our efforts.
- Created a publicly available dashboard of public safety metrics across all three of our operating lines of business.
- Conducted mandatory Safety Leadership Workshops—attended by more than 5,000 employees—to align our leaders around PG&E’s safety strategy and equip them with the tools they need to support their teams in building a safety-first climate.
- Continued to make safety performance the single largest driver for annual at-risk performance-based pay.
- Hosted more than 600 training workshops for first responders to better prepare firefighters, police, public works officials and other authorities to respond to emergencies involving electricity and natural gas.
- Donated $2.5 million to the American Red Cross’ Ready Neighborhoods program, which is improving disaster readiness for underserved communities.
- Established a formal contractor safety program that sets clear requirements and expectations for contractors working with PG&E.
- Staffed more than 1,150 interactive electric and gas safety demonstrations for students, youth groups, contractors, emergency personnel and customers throughout our service area.
| Metric | 2013 Target | Meets Target | 2013 Result | 2014 Target |
|---|---|---|---|---|
| Public Safety | ||||
| Leak Repair Performance1 (number at year-end) |
1,000 or fewer | √ | 151 | 500 or fewer |
| Gas Emergency Response2 (minutes) |
22 | √ | 21.3 | 21 |
| Transmission & Distribution Wires Down3 (percent reduction from prior year) |
3% | √ | 21.4% | 20% |
| Electric Emergency Response4 (percentage within 60 minutes) |
88.3% | √ | 92.2% | 93.6% |
| Workplace Safety | ||||
| Lost Workday Case Rate5 | 0.240 | — | 0.326 | 0.271 |
| Serious Preventable Motor Vehicle Incident Rate6 | 0.28 | — | 0.38 | 0.22 |
- 1 Number of grade 2 and 2+ leaks open at year-end. Grade 2 and 2+ leaks are minor and non-hazardous.
- 2 Average response time that a Gas Service Representative or a qualified first responder takes to respond to the site of an immediate response gas emergency order.
- 3 Number of instances where an electric transmission or primary distribution conductor is broken and falls from its intended position to rest on the ground or a foreign object (e.g., trees, vehicles, fences or other structures).
- 4 Percentage of time PG&E personnel respond (are on-site) within 60 minutes after receiving a 911 electric-related call, with on-site defined as arriving at the premises where the 911 agency personnel are standing by.
- 5 Number of Lost Workday cases incurred per 200,000 hours worked. A Lost Workday case is a current year OSHA Recordable incident that has resulted in at least one lost workday.
- 6 Measures only those incidents considered to be serious, rather than all incidents that were otherwise preventable.
Based in San Francisco, PG&E delivers some of the nation’s cleanest energy to nearly 16 million people in Northern and Central California.