PG&E Corp. (NYS:PCG) 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 (S&P:SPX) has lost 18%.
March 25, 2020, 1:43 p.m. EDT