$PCG

PG&E Corp. (PCG) options trading surged to 564,954 contracts, with call volume at 550,850, the highest in nearly a year. The activity was dominated by calendar spreads on $20 calls, indicating bets on a rise above $20 but with uncertainty about timing. The stock price is $17.75, down 2.58%, with a consensus analyst target of $22.72. Analysts cite regulatory progress as a potential catalyst for valuation recovery.

PG&E agreed to pay $16 million to San Luis Obispo County for two years of extended Diablo Canyon operations, avoiding a proposed bill that would have required the payments. The funds, fully shareholder-funded, will support local communities and schools. PG&E and state officials are discussing future funding for the remaining three years of extended operations.

California lawmakers oppose Gov. Newsom's proposal to limit insurer lawsuits against utilities for wildfire claims. A Democratic-backed plan would allow insurers to sue utilities. Newsom's proposal aims to protect PG&E, Edison International, and Sempra from massive liabilities and speed up payouts.

A California federal judge approved a $100 million settlement for PG&E investors who claimed the company and its underwriters misled them about wildfire risks. The deal resolves allegations of investor deception.

ArcLight Capital Partners invested $1B to launch Anchor Point Transmission for US grid expansion. WATTMORE and Eos Energy Enterprises integrated software for zinc battery storage. PG&E expanded its Vehicle-to-Grid program to include Kia, Volvo, Polestar, and Nissan EVs.

California Governor Gavin Newsom is pushing for a deal to shield utilities from wildfire damage liabilities. PG&E and Southern California Edison face billions in claims. Newsom's plan aims to limit utility payouts, stabilize electricity rates, and expedite victim compensation. Critics argue it favors utilities over victims and insurers. The Legislature has until August 31 to act.

Pacific Gas and Electric Company (PCG) expanded its Vehicle-to-Everything (V2X) program, adding EVs from Kia, Volvo, Polestar, Nissan, and GM. The program offers incentives for residential and commercial customers to use EVs as mobile batteries, providing backup power and grid support. Incentives range from $2,500 to $5,000, with enrollment open through June 30, 2027.

PG&E expanded its PowerHouse program to include Kia, Volvo, Polestar, and Nissan EVs, allowing them to store and redistribute energy. The initiative offers incentives up to $4,500 for certain customers to use bidirectional charging for home backup and grid support. The program aims to integrate EVs into home energy systems, including appliances and HVAC.

PG&E, California's largest investor-owned utility, has requested an 8% electricity rate increase in 2027, which could generate $1.2 billion. Activists oppose the hike, citing high overdue bills and rising costs. Critics blame wildfire expenses and utility shortcomings for the rate increases. Protesters also raised data privacy concerns related to PG&E's contracts with Palantir. Advocates demand regulatory scrutiny and propose public ownership to reduce rates and increase accountability.

Morgan Stanley reduced its price target for PG&E from $23 to $22 but maintained an Equalweight rating. The stock has risen 2.86% year-to-date and 11.76% over the past year.