PG&E Prepares Power Shutoffs for 7,800 Customers as Wildfire Risk Spikes
PCG sits 35% above its 52-week low of $12.97 on light trading volume (0.3× avg).
Summary
PG&E is preparing to cut power to about 7,800 customers across 10 California counties starting Wednesday afternoon due to high winds and dry conditions. This would be the third Public Safety Power Shutoff of 2026, a last-resort measure to prevent wildfires. The utility has activated its Emergency Operations Center and is notifying affected customers. While the scope is far smaller than the 2 million customers affected in 2019, any shutoff event raises operational and liability concerns. The company has invested in grid upgrades and energy storage to reduce impacts, but wildfire season remains a recurring risk for the stock.
At the time of this announcement, PCG was trading at $17.54 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $38.6B. The 52-week trading range was $12.97 to $19.16. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.