DOE's $15 Billion Loan to PG&E for Grid Modernization The U.S. Department of Energy has announced a landmark $15 billion loan to Pacific Gas & Electric (PG&E) Corporation, marking a significant investment in America's utility infrastructure modernization. This historic financing package is specifically designed to support PG&E's ambitious plans to upgrade its electrical grid and renovate its hydroelectric facilities across northern and central California. PG&E, which serves approximately 16 million customers, is implementing these upgrades as part of a broader strategy to enhance grid resilience and reliability. The loan will be distributed through multiple cash installments over several years, ensuring a systematic approach to infrastructure modernization. This financial support comes at a crucial time when PG&E has already announced plans to raise an additional $2.4 billion through a stock offering. The timing of this investment reflects a growing trend among U.S. utility companies seeking additional funding through various channels, including stock offerings and rate case requests. These initiatives are driven by two primary factors: - The need to strengthen infrastructure against increasingly frequent extreme weather events, including hurricanes and wildfires - The necessity to meet rising energy demands, particularly from expanding sectors such as data centers This substantial federal loan represents a significant step in modernizing America's aging utility infrastructure and demonstrates the government's commitment to supporting critical infrastructure improvements. The investment is particularly noteworthy given PG&E's position as one of the largest utility providers in the United States and its crucial role in serving a significant portion of California's population. Source: https://lnkd.in/dubRdNZH #financialmarket #forexnews #forexmarket #investing #gridmldenization
Loan California anything is a big bust. This liberal administration will pocket the money and ask for more. We’ve seen it happen before and it was a disaster.
I wonder how much of that will actually make it to the work being done to the grid. 20% maybe?
One of the worst run public utilities in the country. We pay a third of their rate here in Arizona, and sell power to them on the evenings and at night.
Technology of today utilitys are a choice. Designing home to use batteries is most used rooms & solar charging them batteries using a transfer switch that will be future of energy. Now split AC units available made to operats using the sun to battery power. Utilities are a choice with today’s technology.
Total greenwash scam. Most will be lost to shrinkage and diversion.
That is a bad deal for U.S. tax payer. Another welfare payment to punish Trump. Sry to offend but it is the truth. Any contractor that has ever been involved with PGE knows this.
This is just government picking winners and loosers. If PG&E was a credible business that was well run they could get money from the capitalist banking system. They should have operations cost controls and pay out less divideds and lower salaries to their overpaid employees. AT LEAST THAT IS WHAT TRUMP SAYS.
He went bankrupt ...wow!!!!!!!! 😮🤯 7017540000.003/ BTC check that St.Clair County, Illinois 62233
More ActBlue laundry money?
Electrical/Home Maintenance
2wI wish they would tell you all the reasons that the company had to file bankruptcy in the first place. The story here is just a tip of the iceberg of what this company has faced in the past few years. They need a complete overhaul of not just the grid but the transmission lines and the safety of the supports that keep the lines hanging. In the past they had a lot of traject things happen in this area.