PG&E and City Announce $1.2 Billion 5-Year Infrastructure Investment

Pacific Gas and Electric Company (PG&E) and the City of San Francisco announced plans for PG&E to invest approximately $1.2 billion in San Francisco’s infrastructure over the next five years. Tony Earley, Chairman, Chief Executive Officer and President of PG&E made the announcement with San Francisco Mayor Ed Lee during the San Francisco Chamber of Commerce’s 2013 CityBeat Breakfast. “Investing in the safety and reliability of our gas and electric infrastructure is critical on so many levels,” Earley said. “Not only does it provide immediate job opportunities, it also prepares us to meet the future demands of our customers—like the giants of technology and research in San Francisco who are leading the way for California’s economic growth.” The investment covers a wide variety of new and ongoing infrastructure projects, including building new high-voltage electric lines that will improve disaster resiliency, upgrading electrical substations, replacing natural gas pipelines, and improving electrical distribution systems throughout the city. “The reliability of our electric and natural gas infrastructure is critical to our city’s economic growth, public safety and disaster preparedness and recovery,” said Mayor Lee. “I’m very pleased to see this much-needed and unprecedented commitment to investment in our critical infrastructure, transparency and long-term capital planning from PG&E through this program.” Beyond infrastructure improvements, the plan also invests in people. PG&E plans to continue coordinating with locally based training organizations such as San Francisco’s CityBuild program, in addition to scaling its own PowerPathway workforce training programs, to cultivate a local workforce for PG&E projects. PowerPathway leverages public-private collaborations to produce the skilled and diverse workers needed at PG&E and across the energy industry. “The Chamber’s 2013 CityBeat Breakfast, themed ‘Leading the Way,’ highlighted business innovation and model partnerships, including the announcement of PG&E’s significant commitment to the city’s utility infrastructure,” said Robert (Bob) Linscheid, President & CEO of the San Francisco Chamber of Commerce. “PG&E, in partnership with the Chamber and the city, is helping San Francisco remain a world class resilient city as we continue on a trajectory of economic vitality and growth.” Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric utilities in the United States. Based in San Francisco, with 20,000 employees, the company delivers energy to 15 million people in Northern and Central California. For more information, visit www.pge.com/about/newsroom/ and www.pgecurrents.com.
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