Jonathan. Thank on a morning. earnings And joining very busy know us Thanks what we for is you, morning, everyone. good
progress make here PG&E quarter is and to no different. continue We this at
for $X.XX first Our to core us second half $X.XX of quarter earnings of bring the for per share XXXX. the
have are $X.XX earnings half our first our While recognized versus not XXXX the rate down we case. yet general of benefit
earlier we were catch-up timing affirmed we final quarter and final As a a book January the the will encouraged this from third revenues which still month. date receive that CPUC to a We have us the once reminder XXXX a in memo place account we CPUC this allow in decision expect X decision. effective
goals work. XX% and stakeholder our incremental priorities. Investor our for request areas state strong there As we is maintenance where core policy revenue with of alignment safety at in and is Day May reliability All shared
reaffirming remain today. guidance year the to through are will our which on on delivering annual important decision we be driver laser-focused While the we GRC and track an halfway plan
are XXXX along of through rates X% least at in no and reaffirming We our XXXX. XXXX new issuance also with to least XX% at XXXX and commitment earnings growth in equity
to mitigating physical Turning progress X. and make financial to continued Slide risk. in We've
front On reducing continue for on of preparing risk grid the by system wildfire future. and resilience the physical the focus we to
regulatory to make as progress well. continue We on the front
in work example, CPUC For us our time approved $X proceeding. This our quarter the to Wednesday benefiting rate the customers both of and relief improves needed our over second reliability and line legacy interim our the for our connections allows safety XXXX and billion deliver customer metrics mitigation financial recovering spend accelerates wildfire in on investors.
legal the we District commitments to ongoing make the efforts the to to it contribute and by as to to pleased front, the County organizations Attorney's safe. XXXX The part it of On at resolving Shasta settlement make settle criminal of charges Office May, million PG&E various with $XX Fire. the right local includes related end Zogg were our
website. was was April there is court's Superior to PG&E's settlement visible Investor tree Court below The the ruling upheld that nor our of related standard inspections risk to Relations rulings long-standing there required fell evidence any fire. the the the by that position showing Our from followed available our care, prior no evidence the on which was
to Turning financial risk mitigation.
Our value improving simple continues customers delivers the for strategy hinge consistently to which model, affordable around investors. and
over month, and trust earlier encouraged beneficiaries. million holding this After its are that XX% we now at initial over for trust sale Trust, Victim Fire monetized the share of the higher stock. its values steadily holds our the just X% now has XX the of Regarding
indicated the XXX% XX% shares and of the have goal notices claims all year-end. the end having trustee remaining monetize by of been reach As determination a for with of to June, issued
our hardware anticipated new safety new in risk Plan. involves our and power our with We five. Wildfire the example highlight XX%, reduction we enhanced slide out XX% One to from Turning under to step-up downed layers which XXXX programs as field, is our settings. installing technology, line strategy supplementing in along expanded detection our Mitigation protection roll of conductor
the filed and and we a by to end of X the We OEIS alignment We this decision late of with draft Office our Energy OEIS the response September. critical eight out process our end the drive our we further of its opportunity of August will deadline Infrastructure feedback part WMP notice came with towards OEIS the at the embrace with and regulators. identified the March in file Safety from with expected revision issues WMP view as June. constructive
The will by our the process XX due days OEIS certificate annual preclude later. revision application from approval September of filing due safety not date XX notice with us
As our application. new effect existing remains in a on certificate our an OEIS reminder, decision safety timely filed pending
compliance We hear are an element encouraged regulators engage the our Chief at month, conditions. recognize Chair, our acknowledging commissioners safety on our significant our system. our were discussed Sumeet Annual Board management with with and of Campbell; of our opportunity Cheryl AB and details this culture, to Officer, Earlier our to provide meetings challenges Operating our climate and briefing safety the an Board changing progress, Utility performance These level enterprise Singh safety XXXX including while improvement strategies. CPUC,
on the like and reflect step made. progress in moments being this It's back that we
have me up with Well, all of then. went XXXX, a the elephant room SVP hazards. entirely just meeting all in In place. shift the watching he responding have to and a you're when I and stood and remind of said, Operations in Wildfire at our fact all risk thinking you to Mark and an top to leaders, our the on dramatic done readiness reacting weather posture address bet preventing. how were XXXX. physical Back Emergency made The we predicting since recent let Quinlan, enabled back we've mitigation and regime we've remind to in that He different we then investments us much to since
innovation. to weather We've X,XXX in undergrounded a stations investments and every Since day in Slide XXX X.X miles XX trees. seven million hazard XXX we just few. line X warning X,XXX days We've hired high-definition and a with AI almost a a us place capabilities over To staffed important now installed making PG&E center these mitigations prevention sectionalizing day. professionals have hardened of X,XXX days are devices. and our XXX cameras week on XXXX, and than name more over thanks hours illustrates over the team XXX We've awareness a fire removed more. year we've safer now who
adjacent and We've power enabled including fire high new voltage miles XXXX for conditions shutoffs our warrant areas. public XXXXX implemented host safety them detection. power we've mitigations on of risk when conductor settings enhanced safety force line We've down of a in operational partial and out line and deployed to
has yet it safer system even never day Our will safer that. be and been still and tomorrow after every
and with during layers work through making we controls, briefing and the including presence to have do progress we the CPUC do. As safety to of predictable Safety protection permeates leads our of are manageable the shared we more everything we and outcomes.
we our in the story. XX% our to decreased I'm have and cause key can Through The wildfires date are high tell everything stop. the catastrophic from doing ignitions mid-July we the state that confident in stance reportable equivalent partners threat XXXX. data shall fire including district our
on see data circuits saw a improvement and year, to so acres burned. we we The in are suggests Last on XX% XX% reduction ignitions track XXXX. far a EPSS-enabled reduction in further in
Our hard stopping changed the risk and safety over system past and our years aren't the dramatically of work five there. exposure has our fundamental we
X. to slide Moving
our due is planned. Newsom's risk to financial also Ann mitigation profound XXX Day, SB Investor place how by Governor Wildfire as Fund the state XXXX. changes Secretary the see At in AB Cabinet We heard put in talk Patterson working about you framework and
over give risk assurance is time. they to The providers while designed utilities construct down need the financial the bring capital investments on AB wildfire required and XXXX deploying to the system
those Let refresher revisit for a features newer to me the quickly for may be key our who story. or looking
wildfire in liquidity claim-paying billion event. This access from billion fund. the provides wildfire investors the have For risk year, exceeding claims we state a to a $XX of calendar protecting capacity of $X
plan mitigation safety requirement annual Our our a receiving for wildfire is certificate. annual
as key XXXX. two valid long a to have AB additional access of we have So safety we certificate features
have on comes seeking the along recovery conduct prudent to standard cost at CPUC is First, to the with constructive it been modeled precedent. FERC utility's the upfront prudency when the presumed
acted Second a electric of in to any resulting the fund have to unlikely basis. imprudently obligation XX% on found would reimburse the wildfire event rate of utility the base three-year rolling at being capped T&D be equity
better safe for This the attraction and PG&E. resilient that is a place much necessary climate and system. energy than in a $X is SB operate XXX This prior what currently of build enables the to and and AB was construct XXXX to billion capital cap around
X. Slide to Turning
approval the settlement XXXX the line. time progress first legislative fronts self-insurance of our and Let's settlement, wildfire multiple and of Interim review our including, the litigation half Fire regulatory made on release. We've Rate in year WMCE Zogg
to Looking the current wildfire heard we seen have connections, transition catalysts certification final engagement customer to legislature's new have legislative in with and the forward, our a which mitigation on and processes. several the you've GRC safety where energization, quarter; we starting refer expected in horizon, session plan constructive us as decision commitment the Sacramento on California's XXXX previously energy showing ongoing then on clean
submit for scoping with at license a the we NRC we their complete Canyon this further will ready process. year, to plan CPUC our and operating OEIS our the XX-year end once undergrounding and nuclear out, remain Looking of little application file extension Diablo the
targets. report XXX you year's each debt underground mid-teens. have and our long-term XXXX of of to card FFO plan where and track target This our in XXXX, On on showing XXXX includes our double XXXX Slide last for to our target miles X, we're
As which and and month. non-fuel also our reduction helping performance operating track cost model see, is our while month's waste of experience the in on improve story This together the O&M illustrates work target, for to with you we playbook me our how we're X% projecting customer brings regional processes. our eliminate my story system service lean can
programs across the coordinate improving operations In is region just different that upon branches work. management inspections the the worked are past. common teams types of approach in that in many gas in our field has now done siloed a various a vegetation of are programs working not we've of as to bundling electric sense North Coast systems similar bundling work What's teams and lot work,
planned reliability. crews cost allows same to more grid operations the clearance, work and improving the of bundling switching under do and line work outage Cross-functional reducing overall
near of you what's show closures, to we This at outage, That's notifications one the my goes year, and only under outage day just Rather just planned traffic the XX possible go. our customers XXX-plus and the multiple one Willits. jobs one customer coworkers lane did one in of over we center one QX, During of it all when operations. visit. planned batch the put town one times of executed impacting than
scale So we far $X.X we tip estimate the are just our hours customers. and when XXX-plus deenergize working we iceberg did this not is of year, something time. the to of This we savings same million and proving experience This to have can at costs all across here is we're all the while improved cutting actively momentum the building all customer up of PG&E. deliver at regions, an part
that, I'll to it with turn And over Carolyn.
