PG&E 评估分拆或出售天然气业务：首席执行官称野火风险令 400 万燃气用户承担更高借贷成本
太平洋燃气电力公司（PG&E）首席执行官 Patti Poppe 10 月 22 日在第三季度财报电话会上表示，公司正在推进的战略评估包括天然气业务：若加州立法机构不通过政策改革，公司可能通过经监管批准的分拆、出售或分离，把天然气业务从受野火风险牵连的控股公司结构中剥离。
Poppe 说，PG&E 的 400 万天然气用户正因为所在控股公司背负野火风险，而承担低于投资级的借贷成本；这一问题应当以某种方式解决——首选是政策改革，否则就通过交易释放价值、降低燃气用户的融资成本。加州立法机构今年会期结束时，未通过 PG&E 推动的野火责任相关立法。
她介绍，战略评估的标准包括释放客户与股东价值、目标业务达到投资级的可行性，以及交易的可执行性。PG&E 第三季度核心每股收益为 0.41 美元，并重申 2026 年全年指引。
关联：PG&E三季度核心每股收益0.41美元 重申2026年指引 推进5000英里线路入地计划
来源：GSM·美国
PG&E Weighs Spinning Off or Selling Its Gas Business as Wildfire Risk Raises Borrowing Costs for 4 Million Customers, CEO Says
Pacific Gas and Electric Company (PG&E) chief executive Patti Poppe said on the company's third-quarter earnings call on October 22 that its ongoing strategic review includes the natural gas business: if California lawmakers do not enact policy reform, the company could pursue a regulator-approved spin-off, sale or other separation of the gas business from a holding-company structure exposed to wildfire risk.
Poppe said PG&E's 4 million gas customers are paying sub-investment-grade borrowing costs because the business sits within a holding company exposed to wildfire risk, and that the issue should be resolved one way or another — through policy reform if possible, or through a transaction that unlocks value and lowers borrowing costs for gas customers. California lawmakers ended their session without approving the wildfire liability legislation PG&E had sought.
She said the review weighs unlocking value for customers and owners, the feasibility of reaching investment-grade status for the separated businesses, and the ability to execute a transaction. PG&E reported core earnings of $0.41 per share for the third quarter and reaffirmed its 2026 guidance.
Related: PG&E Q3 core EPS $0.41, 2026 guidance reaffirmed
Source: GSM · U.S.
来源：GSM·美国（原文链接）
图片来源：PG&E 位于 Sacramento 的厂房历史资料图（1912 年，右侧为煤气储柜）。 Photo: Wikimedia Commons (Public domain)
