Stock Symbol: PCG
One Market, Spear Tower
PG&E Corporation Industry:
PG&E Corporation Description:
PG&E Corporation is an energy-based holding company that conducts its business through two principal subsidiaries: Pacific Gas and Electric Company and PG&E National Energy Group, Inc.
PG&E Corporation Financial Summary:
PG&E Corp. is engaged in the business of providing electricity and natural gas distribution and transmission services throughout northern and central CA. For the 6 months ended 6/30/05, revenues decreased 6% to $5.17B. Net income applic. to Common decreased 85% to $472M. Revenues reflect a decrease in electric consumption by customers. Net income also reflects the absence of the recognition of regulatory assets.
PG&E Corporation Business Summary:
PG&E Corporation is an energy-based holding company that conducts its business through Pacific Gas and Electric Company (the Utility), a public utility operating in northern and central California. The Utility engages in the businesses of electricity and natural gas distribution, electricity generation, procurement and transmission, and natural gas procurement, transportation and storage. During the year ended December 31, 2004, PG&E Corporation also owned National Energy & Gas Transmission, Inc. (NEGT). On April 6, 2001, the Utility filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of California. On April 12, 2004, the Utility emerged from Chapter 11. On July 8, 2003, NEGT and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 in the United States Bankruptcy Court for the District of Maryland. On October 29, 2004, NEGT emerged from Chapter 11.