PG&E Reports Higher Q1 Electric Revenue, Advances 4.6 GW Data Center Pipeline
PG&E (PCG) reported Q1 earnings Thursday, showing operating revenues in the electric segment were $4.97 billion for Q1 2026, compared with $4.14 billion a year earlier.The company reported operating revenues in the natural gas segment of $1.91 billion for the quarter ended March 31, compared with $1.85 billion a year ago.PG&E reduced residential bundled electric rates for the fifth time since January 2024, cutting bills by 23% for CARE customers and 13% for other users, it said.The company secured US Nuclear Regulatory Commission approval on April 2 to extend Diablo Canyon operations by 20 years, with the plant supplying nearly 20% of California's clean energy to about four million residents, it said.PG&E connected its eighth renewable natural gas facility and plans to add five more by the end of 2027, having already delivered 7.25 billion cubic feet of RNG since 2021, enough to power over 190,000 homes, it said.The utility completed 31 miles of underground powerlines and added 44 miles of strengthened infrastructure in high-risk fire zones, with plans to exceed 1,900 miles underground and 2,000 miles of strengthened by 2027, it said.PG&E connected over 3,100 customers and 1,500 electric vehicle charging ports while advancing data center projects totaling about 4.6 gigawatts, which could lower customer bills by at least 1% per GW under certain conditions, it said.