Cooper Kerry Whorton sold $22K of PCG

PG&E proposed to underground nearly 500 miles of power lines on the Central Coast by 2037, part of a $11.4B plan to reduce wildfire risk and improve service. The company estimates $117B in long-term benefits and $6B in customer savings. Residents are divided on the plan's cost-effectiveness.

The US battery storage market grew to 52 GW by June 2026, with 8.3 GW added in the first half. Key projects include Nova Power Bank (680 MW), Crimson (350 MW), Nighthawk (300 MW), Cormorant (250 MW), and Bellefield (1,000 MW). These projects highlight different approaches to battery storage, including utility contracts, corporate power agreements, and financing structures.

iShares Global Infrastructure ETF (IGF) reported $17.6M in net buying on Sept 30, including a new $112.5M stake in Consolidated Edison (ED). Other notable buys were Grupo Aeroportuario del Pacifico (PAC) and Grupo Aeroportuario del Centro Norte (OMAB). IGF also sold out of PG&E (PCG) and trimmed positions in Cheniere Energy (LNG) and Williams (WMB).

PG&E has filed a 10-year plan to underground 5,000 miles of power lines in California to reduce wildfire risks. The company's stock has seen a 12.06 USD price and a 25.26% year-to-date decline. The announcement may impact investor perceptions of PG&E's risk management and sustainability efforts.

PG&E (PCG) CEO Patti Poppe noted that AI and data-center growth is increasing power demand in California, but unresolved wildfire liability rules may hinder infrastructure funding. PG&E reported a 12.7-gigawatt data-center pipeline and reduced its 2027 investment plan by $2 billion to $11.4 billion due to liability concerns. Fitch maintained PG&E's BBB- rating but lowered its outlook to 'Negative'. PCG shares are down 25% year-to-date.

PG&E Corporation (PCG) faces wildfire-related liabilities and regulatory uncertainty. UBS downgraded PCG to Neutral, cutting its price target to $14 from $19. The company deferred $2B in 2027 investments due to liability concerns, reducing its capital plan to $11.4B. PG&E has estimated liabilities of $2.25B for the 2021 Dixie fire and $400M for the 2022 Mosquito fire. Hedge funds hold significant positions in PCG, with AQR Capital Management increasing its stake to $1.45B.