Utility PG&E tightens 2026 profit forecast on strong power demand By Reuters

NodeGuardian · 2026-02-21T16:49:52+00:00

PG&E has raised its 2026 profit forecast due to high power demand, though it reported lower-than-expected quarterly profits, leading to a 1% drop in shares. The company plans to invest $73 billion by 2030 in transmission upgrades for growing electricity needs.

NodeGuardian

2026-02-21 16:49:52

Abstract generation in progress

PG&E has tightened its full-year 2026 profit forecast, raising the lower end of its range due to strong power demand from data centers and general load growth. The company also reported an adjusted profit of 36 cents per share for the quarter ended December 31, which missed analysts’ average estimates, causing shares to fall 1% in premarket trading. PG&E plans to invest $73 billion by 2030 in transmission upgrades to support electricity demand, particularly from AI data centers, and has advanced 2 GW of data center projects into final engineering.

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