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March 25, 2020, 1:43 p.m. EDT

PG&E to suspend service disconnections for non-payment for those facing COVID-19-related hardships

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By Tomi Kilgore

PG&E Corp. /zigman2/quotes/202583141/composite PCG +5.82% said Wednesday it was providing support for customers facing hardships related to the COVID-19 pandemic, through a series of billing and service modifications, effective immediately. The San Francisco-based gas and electric company said modifications include suspending service disconnections for non-payment and waiving deposit requirements for new service for residential and small business customers. In addition, PG&E said it was implementing flexible payment plan option and providing additional support for low-income and medical baseline customers. "PG&E is taking swift action to ensure that our customers experiencing hardship as a result of COVID-19 have access to a variety of resources and expanded programs to help manage their energy use and their monthly bills," said Chief Customer Officer Laurie Giammona. Earlier this week, the company said it had a plea agreement on manslaughter charges, related to the 2018 Camp Fire. The stock, which rose 3.6% in afternoon trading, has tumbled 48% over the past month, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.05% has lost 18%.

/zigman2/quotes/202583141/composite
US : U.S.: NYSE
$ 9.09
+0.50 +5.82%
Volume: 27.37M
July 10, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$16.68 billion
Rev. per Employee
$698,292
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/zigman2/quotes/210599714/realtime
US : S&P US
3,185.04
+32.99 +1.05%
Volume: 2.41B
July 10, 2020 5:09p
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