David Frank's questions to PG&E (PCG) leadership • Q2 2025
Question
David Frank of Zimmer Partners asked if PG&E's confidence in its earnings growth targets is supported by capital redeployment options, such as FERC transmission investments or accretive stock buybacks.
Answer
CEO Patti Poppe confirmed their confidence is based on having significant optionality. She emphasized the high demand for capital to improve safety, reliability, and serve new load growth. While acknowledging that being attractive to investors can take different forms, she stated her primary confidence stems from achieving an effective legislative outcome that supports their 'simple affordable model' of delivering capital and earnings growth while reducing customer costs.