PG&E Corporation (NYSE:PCG) is one of the most profitable value stocks to buy according to analysts. On July 15, PG&E announced that it achieved a 42% reduction in methane emissions from its gas pipeline system in 2024, which surpassed its initial commitment.
In 2017, the California Public Utilities Commission/CPUC and the California Air Resources Board/CAR directed PG&E to achieve a 20% methane emissions reduction below 2015 baseline levels by 2025. By outperforming, PG&E set a new target to achieve a 45% reduction by 2030.
A technician in a jumpsuit working on a pumping system in an oil and gas well.
In June, PG&E submitted its annual 2024 emissions data to the CPUC to detail the methods used to achieve the 42% reduction. Additionally, PG&E continued implementing gas mitigation technologies for planned ventings on transmission pipelines, compressor stations, and underground storage facilities.
PG&E Corporation, also known as Pacific Gas & Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California in the US.
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This article is originally published at Insider Monkey.
