trending Market Intelligence /marketintelligence/en/news-insights/trending/HsGI8NEq8lRkPbqHY_XHzg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

S&P upgrades PG&E, Pacific Gas and Electric after rate increases approved

Essential Energy Insights - June 11, 2020

Webinar Replay

Deep Dive on Oil & Gas for Financial Institutions

Essential Energy Insights - May 28, 2020

Essential Energy Insights - May 14, 2020

S&P upgrades PG&E, Pacific Gas and Electric after rate increases approved

S&P Global Ratings on May 12 raised the issuer credit rating on PG&E Corp. and subsidiary Pacific Gas and Electric Co. to A- from BBB+, with a stable outlook.

The upgrade was spurred by the recent California Public Utilities Commission approval of a settlement between Pacific Gas and Electric and 14 customers and other interest groups, allowing the utility to implement annual step rate increases over the next three years.

The commission approved for the PG&E subsidiary a 1.1% rate increase starting this year to collect a net $88 million more than its previously authorized level of $7.91 billion for electric and gas distribution services and electric generation. The decision also allows PG&E a 5.5% rate increase starting in 2018 to collect an additional $444 million in annual revenue and a third annual increase of 4.3% in 2019 to collect $361 million more.

"The higher ratings are based on reduced business risk stemming from the company's long-term efforts to regain the confidence of its regulators and manage the financial fallout from a high-profile gas pipeline incident. We now categorize the business risk profiles of both companies as excellent, up from strong," the rating agency said in a report.

S&P also raised the issue-level rating on PG&E's senior unsecured debt to BBB+ from BBB, the issue-level rating on Pacific Gas & Electric's senior unsecured debt to A- from BBB+. The stable outlook reflects S&P's expectation that PG&E will keep the regulatory risk consistent with its California peers, and will implement measures to support its financial risk profile despite brisk capital spending.