Message from the CEO

To Our Stakeholders:

Today at PG&E, we’re focused on rebuilding trust with the customers and hometowns we’re privileged to serve and everyone we work with as we deliver on our triple bottom line approach of serving People, the Planet, and California’s Prosperity.

Being trustworthy starts with our continued safe operations as we build a climate-resilient, decarbonized energy system for the future.

We’ve become one of the top utilities in the West for wildfire mitigation, according to the Stanford Woods Institute for the Environment. Our natural gas system and our nuclear power plant—Diablo Canyon—continue their exemplary performance.

As we continue our safety progress, we’re firmly committed to California’s decarbonized future and remain on track for our 2040 net zero goal.

In 2023, we delivered 100% greenhouse gas-free electricity to residential and business customers who purchase their power directly through us. We’ve connected over 2,100 megawatts of battery storage to our electric grid, capturing clean energy and supporting reliability for our customers. We’ve also reduced emissions from our natural gas pipelines ahead of schedule, and we’re connecting more renewable natural gas supplies to our system than ever before.

We see a future where a decarbonized energy system is both serving our planet and bringing down energy costs for all. In the short term, we’re focused on finding ways to lower prices for our customers while continuing to make our system safer and more resilient to climate change.

Every day, we will work to earn others’ trust by delivering safe, reliable energy for the People we serve, supporting a healthy Planet for all, and fostering Prosperity in our hometowns throughout Northern and Central California.

Sincerely,

Patricia K. Poppe

Chief Executive Officer

PG&E Corporation