PG&E Corporate Responsibility and Sustainability Report 2018

Northern California Wildfires

PG&E Overview

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation, is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, Pacific Gas and Electric Company delivers some of the nation’s cleanest energy to nearly 16 million people in Northern and Central California. PG&E Corporation had more than $68 billion in assets as of December 31, 2017, and generated revenues of $17.1 billion in 2017.

Headquarters Location
San Francisco, California
Service Area
70,000 square miles in Northern and Central California
Service Area Population
Approximately 16 million people

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

Customer Accounts (as of December 31, 2017)
5.4 million electric distribution accounts:
  • 4.8 million residential
  • 0.6 million commercial, industrial and other
4.5 million natural gas distribution accounts:
  • 4.3 million residential
  • 0.2 million commercial and industrial
Employees (as of December 31, 2017)
Approximately 23,000 regular employees
Approximately 15,000 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
  • 7,687 MW of PG&E-owned hydroelectric, nuclear, natural gas, solar and fuel cell generation
  • Approximately 107,200 circuit miles of electric distribution lines (about 20 percent underground and 80 percent overhead) and approximately 19,200 circuit miles of electric transmission lines
  • Approximately 42,800 miles of gas distribution pipelines, 6,400 miles of backbone and local gas transmission pipelines and three gas storage facilities
Net Operating Capacity of Owned Generation Facilities Footnote 1
Facility Net Operating Capacity (MW)
Total 7,687
Fossil Fuel-Fired Plants
Colusa Generating Station Footnote 2 657
Gateway Generating Station Footnote 2 580
Humboldt Bay Generating Station Footnote 2 163
Fuel Cell Facilities 3
Other Plants
Diablo Canyon Power Plant Footnote 3 2,240
Hydroelectric Facilities 3,892
Solar Photovoltaic Facilities 152
  • 1. As of December 31, 2017 1
  • 2. Natural gas power plant 2a, 2b, 2c
  • 3. Nuclear power plant 3
General Energy Production Statistics
2015 2016 2017
Electricity Generated by PG&E (GWh net) Footnote 1 30,719 33,525 34,861
Fossil Fuel-Fired Plants (GWh net) 7,307 5,718 5,712
Colusa Generating Station (GWh net) 3,572 2,909 2,496
Gateway Generating Station (GWh net) 3,315 2,436 2,779
Humboldt Bay Generating Station (GWh net) 406 368 432
Fuel Cell Facilities (GWh net) 14 5 6
Other Plants (GWh net)
Diablo Canyon Power Plant (GWh net) 18,525 18,931 17,951
Hydroelectric Facilities (GWh net) 4,568 8,554 10,900
Solar Photovoltaic Facilities (GWh net) 319 322 298
Electricity Purchased (GWh) 48,559 41,691 29,814
Retail Electricity Sales (GWh) Footnote 2 72,113 68,441 61,397
  • 1. Net of electricity used to operate plants. Data may not add up due to rounding.1
  • 2. Excludes sales to direct access and community choice customers, and sales to railroads and railways.2
Natural Gas Throughput
2015 2016 2017
Total Natural Gas Throughput (million cubic feet or MMcf) Footnote 1 904,522 822,655 800,923
System Investments
Approximately $5.6 billion in capital investments in 2017 to enhance PG&E’s infrastructure and improve safety and reliability
Contribution to State and Local Revenues
PG&E is a major contributor to the revenue that state and local governments depend on to fund critical public services. In addition to property taxes, PG&E pays franchise fees to cities and counties for the right to use public streets for gas and electric facilities.
Franchise Fee and Property Tax Payments
2015 2016 2017
Franchise Fees $156,127,382 $157,305,763 $165,488,047
Property Tax Payments $385,860,200 $411,210,604 $461,832,527
Financial Performance
The financial information below is derived from PG&E Corporation’s Consolidated Financial Statements at December 31, 2016 and December 31, 2017, unless otherwise indicated, which include the accounts of PG&E Corporation, the Utility and other wholly owned and controlled subsidiaries.
Financial Highlights Footnote 1
(unaudited, in millions, except share and per share amounts)
2016 2017
Dividends Declared Per Common Share Footnote 5 1.93 1.55
Total Assets at December 31 $68,598 $68,012
Number of Common Shares Outstanding at December 31 506,891,874 514,755,845
Operating Revenues $17,666 $17,135
Income Available for Common Shareholders
Earnings from operations Footnote 2 1,884 1,889
Items impacting comparability Footnote 3, Footnote 4 (491) (243)
Reported Consolidated Income Available for Common Shareholders 1,393 1,646
Income Per Common Share, Diluted
Earnings from operations Footnote 2 3.76 3.68
Items impacting comparability Footnote 3, Footnote 4 (0.98) (0.47)
Reported Consolidated Net Earnings Per Common Share, Diluted 2.78 3.21

For more information, see PG&E Corporation’s and Pacific Gas and Electric Company’s 2017 Joint Annual Report to Shareholders (PDF) or Annual Report on Form 10-K (PDF) for year ended December 31, 2017, which have been filed with the U.S. Securities and Exchange Commission.

Forward-Looking Statements

This Corporate Responsibility and Sustainability Report, including the Message from PG&E Corporation’s Chief Executive Officer and President, contains forward-looking statements regarding our plans, expectations, objectives and forecasts that are based on assumptions and information currently available to management.

These plans, expectations, objectives and forecasts, and the underlying assumptions on which they are based, are necessarily subject to various risks and uncertainties, the realization or resolution of which may be outside of management’s control. Actual results could differ materially from those expressed or implied in the forward-looking statements. For a discussion of some of the factors that could cause actual results to differ materially, please see our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2017 (the “2017 Annual Report”) and the Quarterly Reports on Form 10-Q for the quarters ended March 31, 2018 and June 30, 2018.