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(NYSE: $PCG) News Alert: PG&E Renewable Energy Deliveries Grow; GHG-Free Portfolio Is Nearly 70 Percent

 

SAN FRANCISCO, Calif. - March 17, 2017 (Investorideas.com Newswire) Nearly 70 percent of the electricity Pacific Gas and Electric Company (PG&E) delivered to its customers in 2016 came from greenhouse gas-free resources, the company announced this week.

One of the nation's cleanest energy companies, PG&E delivered an average of 32.8 percent of its electricity in 2016 from renewable resources including solar, wind, geothermal, biomass and hydroelectric sources. That's more than a three-percent increase in just one year, and the highest percentage yet for the state's largest combined natural gas and electric company. A total of 69.3 percent of PG&E's electric power mix is from nuclear, large hydro and renewable sources of energy.

"Delivering this amount of renewable electricity strongly confirms PG&E's continued commitment to a cleaner energy future for our customers and all of California. We embrace our role as a leader in renewable energy, and we are full speed ahead in reaching our next targets," said Geisha Williams, CEO and President, PG&E Corporation

This record level of renewable deliveries also propels PG&E toward California's goal of 50 percent renewables by 2030.

The renewable energy milestone comes as the energy company has continued to deliver strong electric reliability over the last decade. By investing in its electric infrastructure and integrating innovative technology to make its power grid smarter and more resilient, PG&E has reduced the number and duration of power outages impacting its customers.

California's Renewables Portfolio Standard is one of the most progressive clean energy mandates in the country. Established in 2002, it required energy providers to increase renewable energy deliveries to 20 percent by 2017, and in 2008 expanded the goal to 33 percent by the end of 2020. Nearly achieving 33 percent renewable energy delivery and continuing the company's advanced pace of renewable energy integration reflects PG&E's larger commitment in the fight against climate change, said Williams.

PG&E has been a leader in clean energy and energy efficiency for nearly 50 years, beginning with energy conservation programs in the 1970s and continuing in the early 2000s with the first clean energy power purchase contracts.

PG&E's diverse renewable power mix includes solar, wind, geothermal, bio-power and small, eligible-renewable hydroelectric energy. In 2016, PG&E expanded purchases of biomass electricity to help address the state's historic tree mortality crisis. In addition, PG&E has connected 285,000 customers with private rooftop solar to the energy grid - representing about 25 percent of the nation's rooftop solar and more than 2,409 MWs of clean energy. The company owns one of the nation's largest hydro-electric systems, as well as Diablo Canyon Power Plant, both of which emit no greenhouse gases. The entire diverse portfolio allows PG&E to deliver more than 69.3 percent of its power from sources which emit no greenhouse gases.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 22,000 employees, the company delivers some of the nation's cleanest energy to nearly 16 million people in Northern and Central California. For more information, visit www.pge.com and www.pge.com/en/about/newsroom/index.page.

Denny Boyles
Corporate Relations
Pacific Gas and Electric Company
2445 Capitol Street, Suite 210
Fresno, CA 93721
Phone: (559) 263-5296
Mobile: (559) 341-7714


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