• PG&E is reviewing all available options to determine how the Company can best be organized and financed to attract the affordable investments needed to deliver the safe, reliable and affordable energy California customers deserve
  • To help keep customer costs down, PG&E plans to defer approximately $2 billion of work in 2027, reducing the need for higher-cost borrowing while maintaining critical safety investments and compliance obligations

OAKLAND, Calif., Sept. 2, 2026 /PRNewswire/ -- PG&E Corporation (NYSE:PCG) and Pacific Gas and Electric Company ("PG&E" and together, the "Company") today announced actions designed to strengthen the Company's ability to deliver safe, reliable and affordable energy for California customers and attract the investment required to meet the region's growing energy demand.  

Revised 2027 Capital Plan

As a short-term step while the Strategic Review is underway, and to help reduce customer costs associated with higher financing expenses, the Company plans to update its 2027 Capital Plan. PG&E expects to defer approximately $2 billion of planned investment while still investing approximately $11.4 billion in California in 2027. As a result, the Company's debt financing needs would be reduced by $2 billion. This directly benefits customers through lower financing costs.

PG&E has identified work that can be delayed or deferred, slowing PG&E's growth and acceleration of some programs. PG&E will continue to fund critical safety programs and maintain current performance on compliance obligations, including its Wildfire Mitigation Plan and safety certification requirements.