The Pacific Gas and Electric Company (PG&E) is an investor-owned electric utility (IOU) with publicly traded stock that is headquartered in the Pacific Gas & Electric Building in San Francisco. PG&E provides natural gas and electricity to most of the northern two-thirds of California, from Bakersfield almost to the Oregon border which represents 5.2 million households. PG&E is overseen by the California Public Utilities Commission. It is the leading subsidiary of the holding company PG&E Corporation which has a market capitalization of $29.37 billion. It was founded by George H. Roe during the period after California’s Gold Rush and by 1984 was the United States “largest electric utility business”. PG&E is one of three regulated, investor-owned utilities (IOU)s in California—the other two being Southern California Edison and Sempra Energy’s San Diego Gas & Electric.
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Tags: Public Utility