PG&E's $73B Plan Hinges on Wildfire Reforms by August
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- PG&E assigned $3.875 billion in aggregate liability estimates for the 2019 Kincade, 2021 Dixie, and 2022 Mosquito fires, with recorded liabilities exceeding insurance recoveries.
- PG&E has filed to recover over $7 billion in wildfire mitigation and loss costs, with the CPUC approving $1.9 billion of a $2.18 billion request in February 2026.
- PG&E plans to underground 5,000 miles of power lines from 2028 to 2037, having already undergrounded 1,240 miles and hardened 2,596 miles since 2018.
- California Energy Commission expects only 1.8 GW of new large load from data centers by 2030, a figure PG&E says it can meet despite developer interest.
- Patti Poppe, PG&E’s CEO, warned that the utility’s $73 billion capital plan could change if California fails to pass acceptable wildfire reform legislation by August 2026.
- PG&E reports nearly 80% of its $73 billion spending plan is allocated to transmission and distribution, citing reduced ignitions as evidence of mitigation success.
Why it matters: PG&E’s ability to secure shareholder investment and execute its $73 billion plan hinges on regulatory approval of wildfire reforms by August 2026, while the state’s modest 1.8 GW data center load projection suggests constrained near-term grid pressure despite tech sector interest.
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