PG&E Corporation

PG&E Corporation is a holding company whose primary operating subsidiary is Pacific Gas and Electric Company, a monopoly utility operating in Northern and Central California. In 2020, PG&E pleaded guilty to 84 separate counts of involuntary manslaughter and one felony count of unlawfully starting a fire after it was determined that the Camp Fire was caused by a high-voltage transmission line the company owned and failed to maintain. The fire burned down most of the town of Paradise and resulted in the death of 85 people. PG&E has also been fined for other incidents, including the 2015 Butte Fire, the 2010 San Bruno pipeline explosion, and the 2008 Rancho Cordova house explosion.

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As Customers Struggled, Utility CEOs’ Pay Spiked Last Year

While many Americans saw their energy bills go up substantially in the past year, investor-owned electric and gas utilities and the country’s largest publicly owned utility paid their CEOs over $647 million in 2023, an increase of 9 percent over 2022, an analysis by the Energy and Policy Institute has found. The CEOs for the...

Utility CEOs received $3.2 billion in executive compensation from 2017 – 2022

Investor-owned electric and gas utilities paid their CEOs $3.2 billion between 2017 and 2022, according to corporate data reviewed by the Energy and Policy Institute. CEOs for the 57 companies reviewed for this analysis received more than $578 million in 2022. Total utility CEO compensation declined from last year, as it did for most other...

Utility CEOs received $2.7 billion in executive compensation from 2017 – 2021

Investor-owned electric and gas utilities paid their CEOs $2.7 billion between 2017 and 2021, according to corporate data reviewed by the Energy and Policy Institute. CEOs for the 58 companies reviewed for this analysis received more than $629 million in 2021, a nearly 40% increase from the $451 million paid in 2017. That is far...

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