
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.

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
- Employees
- 22,581 regular employees (as of December 31, 2014)
- Approximately 13,649 employees are covered by collective bargaining agreements with three labor unions:
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- 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
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- 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
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
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.
2012 | 2013 | 2014 | |
---|---|---|---|
Total Natural Gas Throughput (million cubic feet or MMcf)1 | 944,575 | 951,601 | 914,033 |
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.
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.
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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.