PG&E Corporation (PCG)

PG&E's turnaround is built on 'foundation of safety': CEO

Utility company Pacific Gas & Electric (PCG) topped second quarter earnings and revenue estimates. The company had previously filed for Chapter 11 bankruptcy in January 2019. PG&E CEO Patti Poppe sits down with Julie Hyman to talk about the earnings results and the utility operator's financial turnaround since its bankruptcy filings: "We are shaping a culture of performance with the foundation of safety, both physical and financial safety, and upon that foundation, our turnaround has been built." Poppe also comments on the ongoing wildfires in Chico, California, and PG&E's plans to respond to such emergencies: "We have all manner of physical protections that are in place to keep our customers safe. And then in the event of an ignition, whether it's caused by utility equipment or not, we have a whole nother set of layers of protection. We have, in fact, over 90 former firefighters who work now for PG&E to make sure our assets and our communities are safe. And so we just continue to make our system safer." Lastly, Poppe expands upon how PG&E is using AI and how the energy grid is powering artificial intelligence. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.