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PG&E Launches SHARE Virtual Power Plant to Address Electric Demand

PG&E (PCG) announced Smart Home Assets for Reliability and Efficiency, or SHARE, a virtual power plant, or VPP, designed to help communities benefit from rising electric demand. Together, PG&E, Rewiring America, Google (GOOG), Carrier (CARR), Tesla (TSLA), Sunrun (RUN), Renew Home, Demand Side Analytics, encoord and other partners will deploy the new VPP-a coordinated network of home batteries, smart devices, and battery-enabled heat pumps that reduce energy use during periods of high demand-in Bay Area communities. The model is designed to create additional capacity, support reliability and help put downward pressure on rates while participating households save money through smarter energy management with next-generation home technology. SHARE is a first-of-its-kind VPP proof-of-concept that combines enrollment of existing home energy devices with regional deployment of privately funded new electrification technologies to address growing electric demand.

Company Reports Q2 Revenue of $6.35B, Beating Expectations

Reports Q2 revenue $6.35B, consensus $6.03B. Total company orders were up approximately 40%. "We ended the first half with a stronger than expected second quarter, including better sales, adjusted EPS and free cash flow," said Chairman & CEO David Gitlin. "Organic sales returned to growth earlier than expected, up 3%, driven by strong performance in our CSA segment. Improving Residential and Light Commercial markets in CSA and CSE are encouraging. Orders were very strong globally in the second quarter supported by continued data center demand. Given record backlog levels and our year-to-date performance, we are raising our full-year outlook and now expect sales of about $23 billion and adjusted EPS of ~$2.90."

Raises FY26 Revenue View to $23B

Raises FY26 revenue view to $23B from $22B, consensus $22.3B. Raises FY26 adjusted operating profit view to $3.5B from $3.4B. Backs FY26 free cash flow view $2B.