|Bid||12.21 x 4000|
|Ask||12.35 x 1100|
|Day's Range||11.90 - 12.43|
|52 Week Range||6.25 - 18.34|
|Beta (5Y Monthly)||1.30|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb. 16, 2021 - Feb. 22, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Sep. 28, 2017|
|1y Target Est||14.50|
(Bloomberg) -- In an unprecedented move, California utilities are warning they may need to cut power to almost 300,000 homes and businesses to prevent live wires from sparking wildfires as high winds are set to sweep through the drought-weary state.Edison International’s Southern California Edison said 278,572 customers in six counties near Los Angeles face blackouts within 48 hours due to a forecast of a strong Santa Ana wind event. The utility still had 55 customers switched off in Los Angeles County Sunday, according to Southern California Edison’s website.PG&E Corp. said that it may need to cut service starting Monday night to about 21,000 customers living in the southern part of the state’s Central Valley and Sierra Nevada foothills.These power cuts are extremely rare in the winter and the utilities have never warned of a possible shutoff of this size in January. The blackouts planned this week could affect about 900,000 people, based on the average size of the state’s households.The unusual prospect of January shutoffs underscores how wild California’s weather has become as climate change brings about increasingly extreme warmth and drought. Last year, record temperatures took down large swaths of the state’s power grid and wildfires torched more acreage than ever before.During a regular winter, public safety power shutoffs “would not be under consideration, but this winter has been anything but normal,” PG&E meteorologists said on the utility’s website. Only 22% of the average rainfall this winter has fallen in the southern Sierra, they said.High winds, along with low humidity that has dried brush and grasses making them easier to burn, will create critical conditions Monday and Tuesday, the U.S. Storm Prediction Center said in a forecast. There’s a less severe elevated risk for Sunday.While the winter months usually mark California’s rainy season, much of the state remains gripped by drought conditions, according to the U.S. Drought Monitor.(Adds context on California’s weather pattern in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Pacific Gas and Electric Company (PG&E) has notified a targeted number of customers in small portions of Calaveras, Fresno, Kern, Madera, Mariposa, San Luis Obispo, Santa Barbara, Tulare and Tuolumne counties about a potential Public Safety Power Shutoff (PSPS) Monday night. Dry conditions combined with high wind gusts pose an increased risk for damage to the electric system that could ignite fires in areas with dry vegetation.
Pacific Gas and Electric Company’s (PG&E) expanded network of enhanced weather technology, including weather stations and high-definition fire-watch cameras located in areas of elevated or extreme fire risk, helped reduce the size of each Public Safety Power Shutoff (PSPS) event in 2020 on average by 55 percent.