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PG&E records improved $222 million of operating income for January
By Caroline Salls
Pittsburgh, Feb. 28 – PG&E Corp. reported $222 million of operating income for January on $1,413,000,000 in total operating revenue, according to its monthly operating report filed Friday with the Securities and Exchange Commission.
In comparison, PG&E posted a $4.49 billion operating loss for December on $2,021,000,000 in total operating revenue.
December’s operating loss included $4.99 billion of wildfire-related claims, net of insurance.
Net income for January was $165 million, improving from a $3.75 billion December net loss.
The company had $1.98 billion in cash and cash equivalents as of Jan. 31, up from $1.57 billion at the end of December.
The electric and natural gas utility is based in San Francisco. The company filed bankruptcy on Jan. 29, 2019 in the U.S. Bankruptcy Court for the Northern District of California under Chapter 11 case number 19-30088.
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