Description
PG&E’s $73 Billion Buildout Targets A Massive California Power Demand Wave!
PG&E Corporation reported core earnings per share (EPS) of $0.40 for the second quarter and $0.83 for the first half of 2026, reflecting consistent operational execution underpinned by its lean operating system and simple, affordable model. The company reaffirmed its full-year 2026 core EPS guidance range of $1.64 to $1.66, representing an approximate 10% increase at the midpoint compared to 2025. PG&E projects continued EPS growth exceeding 9% annually from 2027 through 2030, supported by a $73 billion capital investment plan through 2030 that reportedly avoids the need for additional equity financing. The company targets a dividend payout ratio increasing to 20% by 2028 from approximately 12% in 2026, aligned with its self-funded growth strategy. A prominent driver of PG&E’s outlook is anticipated electric load growth, notably from a sizable and expanding data center development pipeline, now exceeding 12 gigawatts, following the 2026 cluster study.
