Projected Financial Outlook

Projected financials through 2029 anticipate revenue of $28.5 billion and earnings of $4.3 billion, underpinning the fair‑value estimate of $22.59. These figures depend on continued grid modernization and wildfire‑mitigation spending, while regulatory risks—especially wildfire liability reforms and cost‑recovery caps—remain pivotal. PG&E’s corporate revolving‑credit agreement extends liquidity through 2029, tying collateral release to achieving an investment‑grade rating, thereby reinforcing capital availability for future projects.