PG&E Corporation (NYSE:PCG) is regarded as one of the top stocks priced under $20. On September 29, PG&E Corporation revealed an ambitious initiative to invest $73 billion in transmission upgrades by the year 2030. This substantial commitment aims to meet the rising electricity demands, largely fueled by the acceleration of data center operations and the growing incorporation of artificial intelligence technologies.
The California-based utility company plans to accommodate 10GW of additional electricity demands from data centers over the next decade. The anticipated increase in energy usage is expected to lead to unprecedented power consumption levels in both 2025 and 2026, as projected by the US Energy Information Administration/EIA.
In addition to accommodating the new energy demands, PG&E is also undertaking significant efforts to enhance the reliability of its power infrastructure, having faced scrutiny for its role in several wildfires in the past. A strategy submitted in March for the period from 2026 to 2028 highlights the company’s objectives to construct nearly 700 miles of underground power lines and execute 500 miles of further wildfire safety improvements between 2025 and 2026.
PG&E Corporation (NYSE:PCG), through its subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas to customers across northern and central California in the United States.
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Disclosure: None. This article was originally published at Insider Monkey.
