PG&E down as utility defers $2 billion in spending after wildfire bill setback
02/09/2026 15:07
BUZZ-PG&E down as utility defers $2 billion in spending after wildfire bill setback ** Shares of utility PG&E Corp PCG.N fall 9.2% to $12.77
** PCG says it will defer about $2 billion in spending for next year, and launches a strategic review
** Company's 2027 plan now includes an investment of $11.4 billion, compared with $13.4 billion previously
** The lower spending plan also reduces PG&E's debt needs by $2 billion, the company says
** It expects adjusted profit of $1.78 to $1.82 per share in 2027, compared with expectations of $1.80 — data compiled by LSEG
** Including session's move, stock down 21.9% YTD
(Reporting by Pranav Mathur in Bengaluru)