News & Events zu PG&E Corp (PCG)PCGPG&E Corp

PG&E Expresses Concerns Over California Bill 492

PG&E on Saturday released a statement on California Senate Bill 492 which reads" "On Saturday, the California Legislature amended Senate Bill 492 to address the state's wildfire risk reduction and recovery framework. While the proposed legislation would make some progress in helping wildfire survivors recover and strengthening wildfire preparedness, it would not provide the sustainable solution California needs. Specifically, the bill does not adequately address the financing risks created by California's current wildfire liability framework. As a result, it falls short of creating the long-term durability needed to attract affordable investment to support a safer, more reliable energy system and help keep costs down for customers. The California Earthquake Authority's April report found, among other conclusions, that existing funding mechanisms are not sufficient. PG&E believes that SB 492 does not adequately address these concerns. California still needs a durable solution that supports wildfire survivors, maintains strong safety incentives, reduces wildfire risk, and enables the affordable investment needed to serve customers and communities safely and reliably."

PG&E Shares Rise 2.22% to $17.77

Cboe data suggests bullish flow in PG&E (PCG), with shares up 38c, or 2.22%, near $17.77. Options volume relatively light with 11k contracts traded and calls leading puts for a put/call ratio of 0.17, compared to a typical level near 0.28. Implied volatility (IV30) is higher by 0.6 points near 47.52, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.53. Put-call skew flattened, suggesting a modestly bullish tone.