PG&E CEO to California Politicians: Stop Stepping on Our Stock Price

PG&E CEO Patricia Poppe on Wednesday directly appealed to California politicians to cease actions that she said are depressing the utility's stock price, arguing that political interference is harming the company's ability to raise capital and serve customers. The remarks, made during a public appearance, underscore a widening rift between the embattled utility and state officials.

PG&E has faced intense scrutiny and billions in liabilities from catastrophic wildfires in recent years, leading to bankruptcy and a complex restructuring. The company's stock has been volatile, and Poppe's comments suggest frustration with regulatory and legislative moves that she believes unfairly penalize shareholders. She did not specify which policies she was referencing, but the utility has clashed with lawmakers over safety mandates and wildfire fund contributions.

The CEO's plea signals escalating tensions as PG&E seeks to stabilize its finances while under pressure to improve safety and reliability. Consumer advocates and some politicians argue that PG&E should prioritize public safety over shareholder returns. The standoff could influence upcoming regulatory decisions and legislative efforts in California, with potential implications for utility investors nationwide.