PG&E: Strong gains in clean energy deliveries

Source: Pacific Gas and Electric Company 

Pacific Gas and Electric Company (PG&E) (NYSE:PCG), announced it is making significant progress toward meeting California's ambitious clean energy mandates. In a progress report provided to the California Public Utilities Commission (CPUC), PG&E estimates that 19.4 percent of the electricity it delivered to its customers in 2011 came from renewable resources such as wind, solar, geothermal, biomass, and small hydroelectric. The comparable figure for 2010 was 15.9 percent. The utility is on track to achieve the state's target of 33 percent by 2020.

"PG&E's progress is a direct result of its commitment to delivering more green power to its customers and its early planning to reach the state's renewable energy goals—the most aggressive in the nation," said Fong Wan, PG&E's Senior Vice President for Energy Procurement. "We saw significant gains in 2011 thanks in part to the ability of developers to overcome financing and transmission obstacles and to meet project milestones. PG&E expects its vigorous renewables procurement program will continue to deliver results in the years to come."

Along with large hydro and nuclear power, PG&E gets more than half of its electricity from sources that are carbon-free or renewable, making it one of the cleanest utilities in the nation.

Since 2002, PG&E has signed more than 110 contracts for about 10,000 megawatts (MW) of renewable power. Since its last progress report to the CPUC last August, five projects totaling 201 MW have come online and are delivering power to PG&E customers. PG&E also has signed three new wind and solar contracts with a combined capacity of about 413 MW. Currently, twelve renewable projects totaling 1,366 MW are under construction and on track to meet their delivery dates. The utility continues to pursue opportunities to add more clean electricity to its portfolio by contracting with project developers and through its utility-owned solar projects.

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