PG&E Overview

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.

Map of California showing an outline of PG&E's service area

Based in San Francisco, PG&E delivers some of the nation’s cleanest energy to nearly 16 million people in Northern and Central California.

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 (as of December 31, 2014)
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
22,581 regular employees (as of December 31, 2014)
Approximately 13,649 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
  • 7,684 MW of owned hydroelectric, nuclear, natural gas, solar and fuel cell generation
  • Approximately 141,700 circuit miles of electric distribution lines (about 20 percent underground and 80 percent overhead) and approximately 18,100 circuit miles of electric transmission lines
  • Approximately 42,500 miles of gas distribution pipelines, 6,700 miles of backbone and local gas transmission pipelines, and various gas storage facilities
Net Operating Capacity of Owned Generation Facilities1
Facility Net Operating Capacity (MW)
Total 7,684
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 3,889
Solar Photovoltaic Facilities 152
  • 1 As of December 31, 2014
  • 2 Natural gas power plant
  • 3 Nuclear power plant
General Utility Production Statistics
  2012 2013 2014
Total Electricity Generated (GWh net)1 31,671 31,547 28,929
Fossil Fuel-Fired Plants (GWh net) 6,309 6,109 6,096
Colusa Generating Station (GWh net) 2,697 2,536 2,485
Gateway Generating Station (GWh net) 3,172 3,182 3,242
Humboldt Bay Generating Station (GWh net) 417 373 350
Fuel Cell Facilities 23 18 20
Other Plants (GWh net)
Diablo Canyon Power Plant (GWh net) 17,728 18,041 17,039
Hydroelectric Facilities (GWh net) 7,469 7,119 5,458
Solar Photovoltaic Facilities (GWh net) 166 279 337
Electricity Purchased (GWh) 48,978 49,837 51,679
Other Electric Supplies (GWh)2 1,238 177 0
Retail Electricity Sales (GWh)3 76,205 75,705 74,547
  • 1 Net of electricity used to operate plants.
  • 2 Represents energy purchased by the California Department of Water Resources (DWR) from various energy suppliers for the benefit of the Utility’s customers.
  • 3 Excludes sales to direct access and community choice customers, and sales to railroads and railways.
Natural Gas Throughput
  2012 2013 2014
Total Natural Gas Throughput (million cubic feet or MMcf)1 944,575 951,601 914,033
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)
  2013 2014
Dividends Declared Per Common Share 1.82 1.82
Total Assets at December 31, $55,605 $60,127
Number of Common Shares Outstanding at December 31, 456,670,424 475,913,404
Operating Revenues $15,598 $17,090
Income Available for Common Shareholders
Earnings from operations1 1,210 1,648
Items impacting comparability2, 3, 4 (396) (212)
Reported Consolidated Income Available for Common Shareholders 814 1,436
Income Per Common Share, Diluted
Earnings from operations1 2.72 3.50
Items impacting comparability2, 3, 4 (0.89) (0.44)
Reported Consolidated Net Earnings Per Common Share, Diluted 1.83 3.06
  • 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.
  • 3 PG&E Corporation’s earnings from operations for 2014 and 2013 exclude net pre-tax costs of $356 million and $645 million, respectively, in connection with natural gas matters that are not recoverable through rates, as shown in the table below. These amounts included pipeline-related costs to perform work in accordance with the Utility’s Pipeline Safety Enhancement Plan (PSEP), to remove encroachments from the Utility’s transmission pipeline rights-of-way, and to complete other activities associated with safety improvements to the Utility’s natural gas system. These amounts also included charges for disallowed PSEP capital expenditures and fines related to natural gas enforcement matters. In 2013, costs included increases to the accrual for third-party claims related to the San Bruno accident. In 2014, the Utility’s liability for third-party claims related to the San Bruno accident was reduced to reflect the settlement of all outstanding third-party claims. Costs in both years were partially offset by insurance recoveries.
  •   2013 2014
    Pipeline-related expenses $387 $347
    Disallowed capital expenditures $196 $116
    Accrued fines $22 $12
    Third-party claims $110 ($7)
    Insurance recoveries ($70) ($112)
    Total natural gas matters (pre-tax) $645 $356
    Total natural gas matters (after tax) $392 $216
  • 4 PG&E Corporation’s earnings from operations for 2014 and 2013 also exclude whole house water replacement program costs associated with the Utility’s natural gas compressor station located near Hinkley, California. The program was discontinued in 2014.

For more information, see PG&E Corporation’s and Pacific Gas and Electric Company’s 2014 Joint Annual Report to Shareholders (PDF) or Annual Report on Form 10-K (PDF) for year ending December 31, 2014, which has been filed with the U.S. Securities and Exchange Commission.







Economic Vitality