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OAKLAND/BOZEMAN - Pacific Gas and Electric Company (PG&E) (NYSE:PCG) has begun working with Bridger Photonics Inc. to strengthen its methane detection capabilities across its natural gas pipeline system, according to a press release statement.
The collaboration will utilize Bridger’s Gas Mapping LiDAR technology to detect and quantify methane leaks across PG&E’s 42,141 miles of distribution pipelines and 6,438 miles of transmission pipelines in northern and central California.
The aerial detection system provides precise location data and leak flow rate measurements, allowing PG&E to prioritize repairs based on emission size and proximity to populated areas. This approach aims to improve response times and enhance safety measures.
"This sensor enables us to accurately pinpoint leaks on our system from an aerial platform, including precise measurement of flow rates, thus mitigating safety risk and reducing methane emissions in a prioritized manner," said Jeff Janvier, Lead of Gas Distribution Operations at PG&E.
PG&E reports it has already exceeded its 2025 methane emission reduction target, achieving a 42% reduction compared to its 2015 baseline. The utility also ranked first on the 2024 US Utilities Decarbonization Index compiled by the National Public Utilities Council.
The company serves approximately 16 million people across a 70,000 square mile service territory and operates 4.5 million natural gas distribution customer accounts.
Bridger Photonics provides methane detection services to various energy companies and claims its technology offers improved leak detection speed and accuracy compared to traditional methods.
In other recent news, PG&E Corporation has completed a $1.25 billion sale of First Mortgage Bonds, as noted in recent SEC filings. This transaction, divided into $400 million in bonds due in 2028 and $850 million in bonds due in 2035, was executed with the involvement of several financial institutions, including BMO Capital Markets Corp., BofA Securities, Inc., Citigroup Global Markets Inc., and J.P. Morgan Securities LLC. The funds are intended to support PG&E’s ongoing operations and capital improvements. Additionally, PG&E has appointed John O. Larsen to its Boards of Directors, bringing extensive experience from his 36-year tenure at Alliant Energy Corporation. Larsen will serve on the Safety and Nuclear Oversight, and People and Compensation committees, contributing his industry expertise to these critical areas.
In legislative developments, a proposed California bill aims to overhaul utility regulation, potentially affecting PG&E’s financial structure. The bill, which has been approved by the California Senate, includes provisions for a new regulatory authority and adjustments to utility wildfire insurance contributions. Meanwhile, UBS has maintained a Neutral rating for PG&E stock with a price target of $19.00, highlighting the company’s strategic focus on maintaining stable electric and gas rates and securing low-cost funding from the Department of Energy. PG&E’s efforts to achieve an investment-grade credit rating and manage wildfire legislation remain key areas of interest for investors.
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