PCG - PG&E says it can meet California electricity demand this summer

2023-07-21 19:21:49 ET

As California's weather heats up, with some areas bracing for triple-digit temperatures in the coming days, PG&E ( NYSE: PCG ) said Friday it is prepared to meet increased electricity demand this summer with new energy supply.

The utility said it is bringing online new resources such as battery energy storage, including an additional 700 MW than it had last summer.

PG&E ( PCG ) said it has brought significant energy supply online in the last few years, noting it had just 6.5 MW of battery energy storage connected to the power grid in August 2020, but it expects to have 1,700 MW online by September 2023, or enough to meet the simultaneous demand of 1.2M homes.

The company also said it is modifying programs that offer financial incentives for residential and business customers who reduce energy use during peak demand times.

PG&E ( PCG ) said it is able to reduce energy demand on the grid by up to 900 MW, the equivalent of demand from 650K homes, through its load management programs and contracts when large numbers of customers participate.

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