PG&E Corporation (PCG): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no mundo intrincado da estratégia de negócios da PG&E Corporation, onde a inovação encontra infraestrutura em uma dança complexa de gerenciamento e sustentabilidade de energia. Este modelo abrangente do modelo de negócios revela como a principal gigante de utilidade da Califórnia navega no cenário desafiador da geração de energia, transmissão e atendimento ao cliente, equilibrando o avanço tecnológico com conformidade regulatória e resiliência da comunidade. Do desenvolvimento de energia renovável aos esforços de modernização de grade de ponta, a abordagem estratégica da PG&E demonstra um compromisso multifacetado em alimentar o futuro da Califórnia, enquanto enfrenta desafios críticos no ecossistema de energia em constante evolução.

PG&E Corporation (PCG) - Modelo de Negócios: Principais Parcerias

Fabricantes de equipamentos elétricos

A PG&E faz parceria com os principais fabricantes de equipamentos, incluindo:

Fabricante	Detalhes da parceria	Valor anual do contrato
General Electric	Equipamento de infraestrutura de grade	US $ 127,3 milhões
Siemens	Componentes do sistema de transmissão	US $ 93,6 milhões
ABB LTD	Subestações elétricas	US $ 84,2 milhões

Provedores de tecnologia de energia renovável

As principais parcerias de tecnologia renovável incluem:

• Primeira Solar - Compra de Painel Solar
• Vestas Wind Systems - Infraestrutura de turbina eólica
• Tesla - Soluções de armazenamento de bateria

Provedor	Capacidade renovável	Investimento em parceria
Primeiro solar	Capacidade solar de 450 MW	US $ 215,7 milhões
Vestas	Capacidade do vento de 325 MW	US $ 187,4 milhões

Agências regulatórias estaduais e federais

Parcerias regulatórias colaborativas:

• Comissão de Utilidade Pública da Califórnia
• Comissão Federal de Regulamentação de Energia
• Comissão de Energia da Califórnia

Parceiros de infraestrutura do governo local

Município	Projeto de infraestrutura	Valor da parceria
São Francisco	Modernização da grade urbana	US $ 76,5 milhões
San Jose	Implementação de grade inteligente	US $ 62,3 milhões

Fornecedores de serviços de tecnologia e software

Fornecedor	Categoria de serviço	Valor anual do contrato
Oráculo	Software corporativo	US $ 14,2 milhões
IBM	Nuvem e segurança cibernética	US $ 22,7 milhões
Salesforce	Gerenciamento de relacionamento com o cliente	US $ 8,9 milhões

PG&E Corporation (PCG) - Modelo de negócios: Atividades -chave

Geração de energia elétrica e transmissão

A PG&E opera 106 instalações hidrelétricas com 1.616 megawatts de capacidade de geração. Capacidade total de geração elétrica de 5.500 megawatts em várias fontes.

Fonte de geração	Capacidade (megawatts)	Percentagem
Hidrelétrico	1,616	29.4%
Gás natural	3,084	56.1%
Solar/renovável	800	14.5%

Atualizações de manutenção e infraestrutura da grade

Investimento anual de infraestrutura de US $ 5,8 bilhões. Mantém 106.681 milhas de circuito de linhas de transmissão e distribuição elétricas.

• A rede cobre 70.000 milhas quadradas na Califórnia
• Serve 16 milhões de clientes
• Orçamento anual de manutenção da grade: US $ 2,3 bilhões

Prevenção e mitigação de incêndios florestais

Comprometido US $ 1,9 bilhão com os esforços de mitigação de incêndios em 2023. Implementaram 1.400 milhas de instalações de condutores cobertos.

Estratégia de mitigação	Investimento	Cobertura
Condutor coberto	US $ 850 milhões	1.400 milhas
Endurecimento do sistema	US $ 650 milhões	Áreas de alto risco

Desenvolvimento de energia renovável

Comprometido com energia renovável de 60% até 2030. O portfólio renovável atual é de 33% da geração total.

• Contratos solares: 2.500 megawatts
• Contratos de energia eólica: 1.200 megawatts
• Capacidade de armazenamento de bateria: 500 megawatts

Atendimento ao cliente e gerenciamento de energia

Opera centros de atendimento ao cliente com 4.500 equipe de suporte. A plataforma digital atende 5,4 milhões de clientes residenciais.

Métrica de serviço	Desempenho
Usuários da plataforma digital	3,2 milhões
Tempo médio de resposta	12 minutos
Interações anuais do cliente	22 milhões

PG&E Corporation (PCG) - Modelo de negócios: Recursos -chave

Extensa infraestrutura de transmissão elétrica

A PG&E opera aproximadamente 106.681 milhas de circuito de linhas de transmissão e distribuição elétricas em toda a Califórnia a partir de 2023. A empresa mantém:

Tipo de infraestrutura	Miles totais
Linhas de transmissão	18.466 milhas
Linhas de distribuição	88.215 milhas

Instalações de geração de energia

O portfólio de geração de PG&E inclui:

Fonte de geração	Capacidade (MW)
Energia renovável	4.723 MW
Nuclear	1.122 MW
Gás natural	3.854 MW

Força de trabalho técnica e experiência em engenharia

Composição da força de trabalho:

• Total de funcionários: 20.549 a partir de 2023
• Engenheiros: Aproximadamente 3.200
• Especialistas técnicos: 2.500

Tecnologias avançadas de gerenciamento de energia

Os investimentos em tecnologia incluem:

• Infraestrutura do medidor inteligente: 5,5 milhões implantados
• Investimento de modernização da grade: US $ 1,9 bilhão anualmente
• Orçamento de infraestrutura de segurança cibernética: US $ 250 milhões

Banco de dados de clientes e territórios de serviço

Métricas da área de serviço	Valor
Total de clientes	5,4 milhões de clientes elétricos
Tamanho do território de serviço	70.000 milhas quadradas
Condados servidos	47 municípios na Califórnia

PG&E Corporation (PCG) - Modelo de Negócios: Proposições de Valor

Distribuição confiável de eletricidade

A PG&E atende a 5,5 milhões de clientes elétricos em 70.000 milhas quadradas no norte e no centro da Califórnia. A empresa opera 106.681 milhas de circuito de linhas de transmissão elétrica e 106.235 milhas de circuito de linhas de distribuição a partir de 2023.

Métrica	Valor
Total de clientes elétricos	5,5 milhões
Território de serviço	70.000 milhas quadradas
Linhas de transmissão	106.681 milhas de circuito
Linhas de distribuição	106.235 milhas de circuito

Soluções de energia sustentável e limpa

A PG&E se comprometeu com 100% de eletricidade sem carbono até 2045. O portfólio atual de energia renovável inclui:

• 33% de fontes de energia renovável
• 80% de geração de eletricidade sem carbono

Esforços avançados de modernização de grade

Investimento em infraestrutura e tecnologia da rede:

Categoria de investimento	Gastos anuais
Modernização da grade	US $ 2,1 bilhões
Mitigação de incêndios florestais	US $ 1,9 bilhão

Programas abrangentes de eficiência energética

Realizações de eficiência energética em 2022:

• 1,2 milhão de avaliações de energia do cliente
• US $ 350 milhões investidos em programas de eficiência energética
• Redução do consumo de energia do cliente em 1.100 gigawatt-horas

Fonte de energia resiliente para comunidades da Califórnia

Métricas de confiabilidade de potência:

Métrica de confiabilidade	Desempenho
Índice de Duração da Interrupção Média do Sistema (Saidi)	0,95 horas por cliente
Sistema de interrupção média Índice de frequência (SAIFI)	0,75 interrupções por cliente

PG&E Corporation (PCG) - Modelo de Negócios: Relacionamentos do Cliente

Plataformas de atendimento ao cliente digital

A PG&E opera uma plataforma abrangente de atendimento ao cliente digital com as seguintes métricas principais:

Recurso da plataforma	Estatísticas de uso
Usuários de aplicativos móveis	1,2 milhão de usuários mensais ativos
Gerenciamento de contas on -line	5,4 milhões de contas online registradas
Interações de suporte digital	3,8 milhões de interações de atendimento ao cliente digital por ano

Rastreamento de uso de energia personalizado

A PG&E fornece serviços avançados de rastreamento de energia com os seguintes recursos:

• Monitoramento de consumo de energia em tempo real
• Recomendações personalizadas de eficiência energética
• Redução detalhada do uso por aparelho e hora do dia

Serviço de rastreamento	Taxa de adoção
Instalações de medidores inteligentes	5,5 milhões implantados
Usuários da plataforma de insights de energia	2,1 milhões de usuários ativos

Programas de envolvimento da comunidade

A PG&E mantém extensas iniciativas de engajamento da comunidade:

Programa	Investimento anual
Programas de assistência comunitária	US $ 87,4 milhões
Descontos de eficiência energética	US $ 342 milhões
Parcerias comunitárias locais	45 parcerias ativas

Sistemas de cobrança e suporte online

A infraestrutura de cobrança e suporte digital inclui:

• Opções de cobrança sem papel
• Vários canais de pagamento
• Suporte on -line 24/7

Recurso de cobrança	Estatísticas de uso
Usuários de pagamento on -line da conta on -line	4,7 milhões de usuários ativos
Tempo médio de processamento de pagamento online	2,3 minutos

Serviços de consulta de eficiência energética

A PG&E oferece consultas especializadas em eficiência energética:

Serviço de consulta	Métricas anuais
Auditorias de energia doméstica gratuitas	52.000 auditorias concluídas
Serviços de consultoria de energia comercial	3.800 consultas de negócios
Orçamento do programa de economia de energia	US $ 456 milhões

PG&E Corporation (PCG) - Modelo de Negócios: Canais

Portal da Web online

O Portal da Web on -line da PG&E atende a aproximadamente 5,4 milhões de clientes elétricos e 4,7 milhões de clientes de gás natural na Califórnia. A partir de 2024, o portal processa mais de 2,3 milhões de pagamentos mensais de contas on -line.

Recurso do canal	Estatísticas de uso
Usuários ativos mensais	1,8 milhão
Transações de pagamento de contas on -line	2,3 milhões por mês
Ativações do painel de uso de energia	890.000 clientes

Aplicativo móvel

O aplicativo móvel da PG&E foi baixado 1,2 milhão de vezes com uma classificação de 4,1 estrelas em lojas de aplicativos.

• Contagem de download de aplicativos: 1,2 milhão
• Usuários móveis ativos mensais: 725.000
• Recursos de relatório de interrupção: rastreamento em tempo real

Centros de atendimento ao cliente

A PG&E opera 27 centros de atendimento ao cliente físico em toda a Califórnia, lidando com aproximadamente 3,1 milhões de interações de clientes anualmente.

Métrica do centro de serviço	Valor
Locais físicos totais	27
Interações anuais do cliente	3,1 milhões
Tempo médio de espera	12,5 minutos

Representantes de vendas diretas

A PG&E emprega 620 representantes de vendas diretas focadas em programas de eficiência energética e aquisição de clientes.

• Total de Representantes de Vendas: 620
• Custo médio de aquisição de clientes: US $ 187
• Taxa de conversão do programa de eficiência energética: 14,3%

Os profissionais de marketing de energia de terceiros

A PG&E colabora com 42 profissionais de marketing de energia de terceiros, gerenciando aproximadamente US $ 640 milhões em contratos de energia alternativos.

Métrica de marketing de terceiros	Valor
Os profissionais de marketing total de terceiros	42
Valor alternativo de contrato de energia	US $ 640 milhões
Contratos de energia renovável	28 profissionais de marketing

PG&E Corporation (PCG) - Modelo de negócios: segmentos de clientes

Consumidores de eletricidade residencial

A PG&E atende a aproximadamente 5,4 milhões de clientes de eletricidade residencial no norte e no centro da Califórnia.

Categoria de cliente	Número de clientes	Conta mensal média
Casas unifamiliares	4,2 milhões	$157.43
Residencial de várias unidades	1,2 milhão	$112.76

Clientes comerciais comerciais

A PG&E suporta 1,1 milhão de clientes de eletricidade comercial e industrial em toda a Califórnia.

• Pequenas empresas: 850.000 clientes
• Médio Empresas: 180.000 clientes
• Grandes entidades comerciais: 70.000 clientes

Usuários de energia industrial

O segmento industrial representa 15% da base total de clientes da PG&E.

Setor da indústria	Número de clientes	Consumo anual de energia
Fabricação	22,500	38.600 gwh
Tecnologia	8,750	15.200 gwh

Entidades municipais e governamentais

A PG&E atende a 250 clientes municipais e governamentais em toda a Califórnia.

• Instalações do governo estadual: 75 clientes
• Entidades do governo local: 125 clientes
• Instalações do governo federal: 50 clientes

Clientes do setor agrícola

Os clientes agrícolas representam 7% da base total de clientes da PG&E.

Segmento agrícola	Número de clientes	Consumo anual de energia
Produção agrícola	12,500	6.750 GWh
Operações de gado	3,750	2.250 GWh

PG&E Corporation (PCG) - Modelo de negócios: estrutura de custos

Despesas de manutenção de infraestrutura

As despesas de manutenção de infraestrutura da PG&E para 2023 totalizaram US $ 6,2 bilhões, com alocações importantes da seguinte forma:

Categoria de infraestrutura	Custo anual
Manutenção da grade elétrica	US $ 3,7 bilhões
Manutenção de gasoduto de gás natural	US $ 1,5 bilhão
Infraestrutura de prevenção de incêndios florestais	US $ 1 bilhão

Custos de geração e transmissão de energia

As despesas de geração e transmissão de energia para 2023 avaria:

• Custos totais de geração de energia: US $ 2,8 bilhões
• Infraestrutura de energia renovável: US $ 1,2 bilhão
• Atualizações da rede de transmissão: US $ 850 milhões
• Contratos de compra de energia: US $ 750 milhões

Investimentos de conformidade regulatória

Os custos de conformidade regulatórios para 2023 incluídos:

Categoria de conformidade	Investimento anual
Conformidade com a regulamentação ambiental	US $ 450 milhões
Implementação da regulamentação de segurança	US $ 350 milhões
Despesas legais e de relatórios	US $ 200 milhões

Investimentos de tecnologia e atualização de tecnologia

Investimentos de tecnologia para 2023:

• Tecnologia de grade inteligente: US $ 475 milhões
• Aprimoramentos de segurança cibernética: US $ 250 milhões
• Iniciativas de transformação digital: US $ 325 milhões
• Analytics de dados e sistemas de IA: US $ 200 milhões

Compensação e treinamento de funcionários

Despesas relacionadas aos funcionários para 2023:

Categoria de compensação	Custo anual
Compensação total dos funcionários	US $ 1,6 bilhão
Treinamento e desenvolvimento profissional	US $ 85 milhões
Benefícios e saúde	US $ 420 milhões

PG&E Corporation (PCG) - Modelo de negócios: fluxos de receita

Vendas de eletricidade para clientes residenciais

Em 2022, a PG&E registrou receita de eletricidade residencial de US $ 10,47 bilhões. O cliente residencial médio pagou aproximadamente US $ 132,63 por mês por serviços de eletricidade.

Segmento de clientes	Total de clientes	Receita anual
Clientes residenciais	5,4 milhões	US $ 10,47 bilhões

Contratos de energia comercial e industrial

As vendas comerciais e industriais de eletricidade geraram US $ 8,63 bilhões em receita para PG&E em 2022.

Segmento	Número de clientes	Receita anual
Clientes comerciais	290,000	US $ 6,2 bilhões
Clientes industriais	45,000	US $ 2,43 bilhões

Vendas de crédito energético renováveis

A PG&E gerou US $ 215 milhões com vendas de crédito de energia renovável em 2022.

• Créditos energéticos renováveis ​​totais vendidos: 3,2 milhões de mwh
• Preço médio de crédito: US $ 67,19 por mwh

Conexão de grade e taxas de serviço

As taxas de conexão e transmissão da grade totalizaram US $ 1,87 bilhão em 2022.

Tipo de serviço	Receita anual
Taxas de conexão da grade	US $ 1,24 bilhão
Taxas de serviço de transmissão	US $ 630 milhões

Receitas do Programa de Eficiência Energética

As receitas do programa de eficiência energética atingiram US $ 412 milhões em 2022.

• Programas de eficiência energética residencial: US $ 186 milhões
• Programas comerciais de eficiência energética: US $ 226 milhões

PG&E Corporation (PCG) - Canvas Business Model: Value Propositions

You're looking at the core promises PG&E Corporation (PCG) is making to its customers and the state of California as of late 2025. These aren't just vague goals; they are backed by massive capital commitments and measurable operational results, which is what you need to see as a financially-literate stakeholder.

Enhanced safety and grid resilience through system hardening

The primary value proposition revolves around permanently mitigating the risk of catastrophic wildfires and ensuring the lights stay on, especially with the massive load growth coming from data centers. PG&E Corporation (PCG) has committed to a staggering $73 billion capital expenditure program through 2030 to overhaul its system. This isn't just for new connections; a significant portion is dedicated to hardening the existing infrastructure against extreme weather events.

Here's a quick look at how that capital is being allocated, based on the latest five-year plan details:

Capital Plan Component (2026-2030)	Allocated Amount	Metric/Goal
Electric Distribution Investment	$38 billion	Largest segment of the overhaul
Safety Allocation	$20 billion	Directly related to wildfire mitigation
Resiliency Allocation	$16 billion	Focus on grid hardening and DER integration
Undergrounding (2025-2026 Target)	Nearly 700 miles	Part of the prior 2026-2028 plan, building momentum
Community Microgrids Supported (MIP)	9 projects	Supported by up to $43 million in MIP funding

To be fair, the sheer scale of the investment is necessary given the utility's history, but the execution on prior targets is encouraging; for example, in 2024, they completed 258 miles of underground powerlines in high-fire-risk areas.

Delivery of 98% greenhouse gas-free electricity to customers

PG&E Corporation (PCG) is delivering one of the cleanest power mixes in the nation. For the 2024 reporting period, the utility supplied 98% greenhouse gas-free electricity to the customers to whom it directly sells power. This is a concrete metric supporting California's broader clean energy mandates.

The composition of that clean energy portfolio in 2024 was:

• Eligible renewable resources (wind, solar, geothermal, biomass, small hydro): 23%
• Non-emitting nuclear generation: 63%
• Large hydroelectric facilities: 12%

Fossil fuels, specifically natural gas, accounted for only 2% of the power mix delivered to these bundled customers in 2024.

Essential, reliable electric and natural gas utility service

As a regulated monopoly, the core value proposition is the provision of essential service. Beyond the safety investments mentioned, reliability is being enhanced through technology. PG&E Corporation (PCG) is integrating distributed energy resources (DERs) and has targets for battery storage deployment to manage peak demand and integrate intermittent renewables. They had brought online over 2,100 MW of new incremental battery storage capacity by early 2024, with an additional 687.5 MW planned for 2025. This helps ensure service continuity even when weather stresses the system.

Bill stabilization efforts to keep residential rates flat or decreasing

You're right to focus on affordability; significant safety spending can quickly translate into customer bill shock. PG&E Corporation (PCG) has actively worked to offset these necessary costs. The company forecasts no further electric rate increases in 2025. Furthermore, residential electric rates have dropped three times over the past 15 months (as of September 2025), effectively offsetting prior increases.

The most recent rate action in September 2025 saw a 2.1% residential electric rate decrease, which translates to about a $5 monthly dip for a typical customer using 500 kWh. Looking forward, the goal is for total residential combined gas and electric bills to be flat in 2027 compared to 2025 levels, even with proposed rate case increases, because expiring cost recoveries are expected to offset them. For customers needing immediate help, the PG&E REACH program distributed over $50 million in financial assistance last year alone.

Supporting California's clean energy goals and electric vehicle adoption

PG&E Corporation (PCG) is a key enabler for the state's decarbonization targets. The utility has a stated goal to serve 3 million EVs by 2030. This is a critical component, as transportation is the single largest source of climate-related pollution in California.

Here are the adoption metrics as of early to mid-2025:

• EVs currently in PG&E's service area: Over 700,000
• Impact of next 1 million EVs connecting: Estimated 2% to 3% lower residential electric rates by spreading fixed costs
• EV Fleet Program Goal: Deploy over 6,500 electric vehicles in medium- and heavy-duty fleets

The company has already helped more than 13,000 income-qualified customers get into EVs through rebate programs, directly addressing the equity gap in the clean energy transition. Finance: draft 13-week cash view by Friday.

PG&E Corporation (PCG) - Canvas Business Model: Customer Relationships

The service relationship for PG&E Corporation customers is fundamentally highly regulated, meaning terms of service, rates, and operational standards are non-negotiable and set by the California Public Utilities Commission (CPUC).

For the 2025 fiscal year, PG&E Corporation reaffirmed its GAAP earnings guidance in the range of $1.30 to $1.36 per share, reflecting the financial outcomes within this regulated structure. Furthermore, residential combined gas and electric bills were reported as remaining flat in January 2025 compared to January 2024, assuming similar usage patterns.

Community engagement is heavily focused on mitigating the impact of Public Safety Power Shutoff (PSPS) events, a necessary tool used as a last resort due to wildfire risk. PG&E Corporation is working to improve the PSPS experience, including expanding the use of 13 distribution microgrids, with two pre-staged with temporary generation for the 2025 wildfire season. During a January 2025 PSPS event, PG&E de-energized 583 customers in two TPs in one county, while contacting more than 10 community representatives to ensure local preparation.

Digital self-service tools offer personalized tracking, allowing customers to view electric and gas cost and usage trends by Day, Week, Month, or Year. For electric usage, data is available in 15-minute intervals, and customers can download this data or stream near real-time usage if on specific small- or medium-business rate schedules.

Support for income-qualified customers is a key relationship component. The California Alternate Rates for Energy (CARE) program provides a monthly discount of 20 percent or more on gas and electricity. PG&E Corporation supports approximately 1.4 million customers through this program, which, along with FERA, reduced customer bills by almost $1 billion in 2023.

Here are some key figures related to customer service and support initiatives:

Metric/Program	Value/Amount	Context/Year
CARE Program Customer Count (Target/Reference)	1.4 million customers	Reference from outline
CARE/FERA Bill Reduction	Almost $1 billion	2023
PSPS De-energized Customers (Example Event)	583 customers	January 2025 PSPS
Distribution Microgrids in Use	13	2025 Season Preparation
Electric Usage Data Granularity	15-minute intervals	Digital Tools
2025 GAAP EPS Guidance Range	$1.30 to $1.36 per share	2025 Financial Outlook

The utility maintains several avenues for customers to manage their accounts and find assistance:

• Self-serve options to update account, pay bills, and update alert settings online.
• Access to rate analysis tools to find a potentially less expensive electric rate.
• The Relief for Energy Assistance through Community Help (REACH) program provided more than $50 million in total financial assistance to nearly 58,000 customers in 2024.
• The LIHEAP program provided over $49 million in funding to over 58,000 PG&E customers in 2024.
• CARE offers a minimum 20 percent discount on gas and electric rates.

Finance: draft 13-week cash view by Friday.

PG&E Corporation (PCG) - Canvas Business Model: Channels

You're looking at how PG&E Corporation physically connects with and delivers service to its customers across Northern and Central California. This is all about the wires, pipes, and digital touchpoints that make up their delivery mechanism.

Physical electric transmission and distribution infrastructure

The physical backbone is massive, covering a service area of approximately 70,000 square miles, serving about 16 million people. The company is actively managing this system, for instance, by burying 258 miles of powerlines in 2024 to reduce wildfire risk. For 2025 and 2026, PG&E Corporation plans to replace up to 100 miles of distribution pipelines annually, focusing on vintage plastic and steel pipes.

Here's a snapshot of the electric system utilization and related capital work:

Metric	Value	Context/Year
Average Grid Utilization Rate	45%	As of July 2025
New Service Connections Completed	13,640	Full Year 2024
Targeted New Service Connections	Approximately 19,000	Full Year 2025
New EV Charging Ports Installed	Over 3,800	Full Year 2024

Natural gas pipeline network and storage facilities

The natural gas delivery system is extensive. PG&E Corporation operates approximately 4.5 million natural gas distribution customer accounts. The network itself comprises significant mileage for delivery and transport.

• Natural gas distribution pipelines: 42,141 miles
• Natural gas transmission pipelines: 6,438 miles
• Total combined pipeline mileage: Over 50,000 miles
• Annual natural gas provided: Roughly 970 billion cubic feet

The utility is also focused on integrity and emissions, responding to gas odor reports within 19.6 minutes on average in 2024.

Digital platforms: Website and mobile app for billing and outage reporting

Digital channels are critical for customer interaction, especially for routine tasks and emergencies. Customer satisfaction metrics reflect the performance of these interfaces, though overall satisfaction for residential customers in the West region was low.

• Residential Customer Satisfaction (ACSI Score): 66 out of 100
• Telecommunications Customer Overall Satisfaction (9 or 10 rating): 88%
• Telecommunications Service Planning and Design Score: 9.4 out of 10
• Telecommunications Design Time Improvement: Reduced to 55 days from nearly six months in 2024

The company is using these digital improvements to streamline processes, aiming to streamline applications for repeat customers.

Customer call centers and field service personnel

Direct human interaction remains a key channel, supported by a large workforce. PG&E Corporation has approximately 28,000 coworkers who live and work in the communities served. Field service personnel are dispatched for essential tasks, including emergency response.

For income-qualified households, the Energy Savings Assistance Program provided weatherization and efficiency solutions to more than 50,750 households in 2024, and the CARE program provided a monthly discount to 1.4 million income-qualified customers.

Direct connections to large C&I and new data center loads

Serving large, new loads is a strategic channel for utilizing existing infrastructure and potentially lowering bills for all customers. The data center pipeline is substantial, representing significant future demand.

The current data center demand pipeline is estimated at 10 GW as of July 2025. This is a major increase from the 5.5 GW reported at the end of 2024.

Data Center Load Metric	Value	Status/Projection
Total Data Center Pipeline	10 GW	As of July 2025
Load in Final Engineering	Approximately 1.5 GW	Projected online between 2026 and 2030
Potential Bill Reduction per 1 GW Served	1% to 2%	Long term estimate
Estimated Property Tax Revenue from 10 GW	$1.25 billion to $1.75 billion	Total estimate

This growth is being managed through streamlined processes like the interim implementation of Electric Rule 30, which facilitates accelerated connections for large loads. The company is also focused on connecting new commercial and industrial demand, having connected nearly 14,000 new customers in 2024.

PG&E Corporation (PCG) - Canvas Business Model: Customer Segments

You're looking at the core groups PG&E Corporation (PCG) serves across its 70,000-square-mile territory in Northern and Central California. These segments drive the massive infrastructure investment you see in their capital plan, which is approximately $63 billion through 2028.

The customer base is segmented by service type and energy demand profile. Here are the key groups:

• Residential customers: Approximately 5.6 million residential gas customers served as of 2024.
• Commercial and Industrial (C&I) businesses.
• High-demand data centers with a 10 gigawatt pipeline.
• Agricultural operations across Northern and Central California.
• Public sector entities (e.g., street lighting, government facilities).

The sheer scale of the residential base is significant, but the growth in data center demand is reshaping the load profile. The 10 GW data center pipeline, as reported in July 2025, is enough electricity to power about 7.5 million homes simultaneously.

Here's a breakdown of the non-residential segments with the latest available financial contribution data:

Customer Segment	Metric	Amount/Value
Residential Customers	Gas Customers (approx.)	5.6 million
High-Demand Data Centers	Electricity Demand Pipeline (as of July 2025)	10 gigawatts (GW)
Commercial Customers	Electric Revenue (Q1 2025)	$1,506 million
Commercial Customers	Natural Gas Revenue (Q1 2025)	$399 million
Industrial Customers	Electric Revenue (Q1 2025)	$414 million
Agricultural Operations	Electric Revenue (Q1 2025)	$199 million
Public Sector (Street Lighting)	Revenue (Q1 2025)	$27 million

The data center pipeline growth is notable; it increased from 5.5 GW at the end of 2024 to 10 GW by July 2025.

For the broader Commercial and Industrial group, which PG&E Corporation often groups with Agricultural for reporting purposes, the combined electric revenue for the three months ended March 31, 2025, was substantial. You can see the individual components above, but it's worth noting the operational data available for these non-residential classes:

• PG&E Corporation provides non-confidential, aggregated usage data quarterly for Residential, Commercial, Industrial, and Agricultural customer types.
• Public datasets must meet aggregation standards: a minimum of 100 Residential customers and a minimum of 15 Non-Residential customers per aggregation point.

The utility is actively connecting new customers, having connected nearly 14,000 new customers to its electric system in 2024, and anticipates load growth of 2% to 4% per year through 2040, partly driven by these segments.

PG&E Corporation (PCG) - Canvas Business Model: Cost Structure

You're looking at the major outflows that keep PG&E Corporation's system running and hardening it against climate risk. These costs are significant and heavily scrutinized by regulators.

Capital Expenditures (CapEx) Scale

The investment required for grid modernization is massive, underpinning future operational costs. PG&E Corporation has a multi-year plan that signals the scale of this spending commitment.

• PG&E Corporation has a 5-year capital plan of $63 billion through 2028.
• A more recent plan outlines $73 billion in capital expenditures through 2030.
• The weighted average rate base is projected to grow from $69 billion in 2025 to $106 billion by 2030.

Wildfire Mitigation Costs (Undergrounding, Vegetation Management, Insurance)

These costs are a primary driver of capital deployment and rate increases. The utility has a dedicated, multi-year plan to address this risk.

• PG&E planned to spend roughly $18 billion through 2025 under its 2023-2025 Wildfire Mitigation Plan (WMP) cycle.
• The 2026-2028 Wildfire Mitigation Plan includes targets like nearly 1,100 miles of undergrounding.
• PG&E Corporation deployed 1,000 miles of underground power lines in the highest fire-risk areas.
• The California legislature expanded the state's wildfire fund by $18 billion.

Debt Servicing and Unrecoverable Interest Expense

Interest expense related to certain financing activities is explicitly called out as a non-core item impacting GAAP earnings.

For 2025 GAAP earnings guidance, costs related to unrecoverable interest expense are projected to be between $350 million and $400 million after tax. The guidance range for 2025 non-core items, which includes this expense, is $360 million to $400 million after tax.

Energy Procurement Costs (Natural Gas and Electricity)

These costs are managed through regulatory proceedings that set procurement-related rates.

The annual Energy Resource and Recovery Account (ERRA) forecast proceeding sets electric procurement-related rates. For the January 2025 rate change, PG&E saw an average rate decrease of about 0.5% for bundled customers for PG&E-provided services. The utility is conducting a solicitation to sell Greenhouse Gas-Free (GHG-Free) energy generated in 2025 and 2026.

Here's a look at the components impacting the cost structure, based on recent financial reporting:

Cost Component Category	Specific Metric/Item	Reported/Projected Value (FY 2025 or Relevant Period)
Capital Investment Scale	5-Year CapEx Plan (2026-2030)	$73 billion
Wildfire Mitigation	2023-2025 WMP Planned Expenditure (Total)	Roughly $18 billion
Wildfire Mitigation	Undergrounding Miles Deployed (Recent)	1,000 miles
Debt Servicing/Interest	Unrecoverable Interest Expense (After Tax)	$350 million to $400 million
Energy Procurement	January 2025 Rate Change (Bundled Customers)	Average rate decrease of about 0.5%
Operating & Maintenance (O&M)	Non-Fuel O&M Reduction Target	2%
Operating & Maintenance (O&M)	Non-Fuel O&M Savings (YTD Impact on EPS)	+8¢ per share

Operating and Maintenance (O&M) Expenses

PG&E Corporation is actively targeting reductions in its day-to-day running costs, excluding fuel expenses.

• PG&E Corporation is on track to meet its 2% non-fuel O&M reduction target in 2025.
• The company saved over $200 million in non-fuel O&M costs in each of the past three years.
• Year-to-date 2025 performance was positively impacted by operating and maintenance savings of +8¢ per share.

PG&E Corporation (PCG) - Canvas Business Model: Revenue Streams

The revenue streams for PG&E Corporation are fundamentally anchored in its regulated utility operations, selling electricity and natural gas to customers across Northern and Central California. This forms the base upon which all other financial metrics are calculated.

Regulated electric and natural gas sales to customers are the primary source of top-line revenue. As of the first quarter of 2025, PG&E Corporation reported total operating revenues of $5,983 million. This revenue supports a massive service territory, covering approximately 5.3 million electricity customers and 4.6 million gas customers. The company is actively working on bill stabilization, with average residential electric rates reported as lower in March 2025 compared to the previous year.

A critical component of the regulated revenue model is the Return on Equity (ROE) earned on the regulated rate base. This is a key lever for profitability within the regulatory framework. For instance, the decrease in GAAP earnings per share for the first quarter of 2025 was partially attributed to a lower authorized ROE, which had recently reduced from 10.7% to 10.28% following a cost of capital decision. This direct impact on the authorized return highlights the sensitivity of earnings to regulatory outcomes.

The overall revenue requirement, which dictates the total authorized revenue PG&E Corporation can collect, is determined through the Authorized revenue from General Rate Case (GRC) decisions. PG&E Corporation's latest application sought a revenue requirement of $17.43 billion for the 2025 fiscal year. The rates effective January 1, 2025, were established through the consolidation of authorized changes via an Annual Electric True-Up advice letter. The Utility noted that its General Rate Case proposal submitted in 2025 represented its smallest percentage increase in a decade.

While specific industrial electric revenue for Q1 2025 is not explicitly detailed in the latest reports, the overall revenue performance reflects the combined sales to all customer classes. The company's performance is tracked through quarterly earnings, which give you a view of the flow of funds:

Period	Total Operating Revenue (Millions USD)	GAAP EPS (USD)	Non-GAAP Core EPS (USD)
Q1 2025	$5,983	$0.28	$0.33
Q2 2025	Not Reported	$0.24	$0.31
Q3 2025	Not Reported	$0.37	$0.50

Finally, the revenue structure includes performance-based mechanisms, such as Incentive revenues tied to safety and performance metrics. These incentive revenues are explicitly listed as a factor expected to drive non-GAAP core earnings for the full year 2025. The company also tracks progress against operational goals that can influence regulatory outcomes, such as meeting its 2% non-fuel O&M reduction target, which it was on track to meet or exceed as of the second quarter of 2025.

The overall expectation for the year is captured in the guidance:

• Full Year 2025 GAAP EPS Guidance (as of July 2025): $1.26 to $1.32 per share.
• Full Year 2025 Non-GAAP Core EPS Guidance (narrowed as of October 2025): $1.49 to $1.51 per share.
• Five-Year Capital Plan (through 2028): $63 billion.

Finance: draft 13-week cash view by Friday.