Feb 18 2010

PG&E: America's Most Innovative Utility?

Posted by: Jonathan Marshall

Anyone who still thinks all utilities are slow and stodgy should pick up a copy of the March issue of Fast Company, a magazine that chronicles the strategies and successes of cutting-edge businesses. On its annual list of the 50 Most Innovative Companies--at no. 7--is Pacific Gas and Electric Company.

Among companies in the energy industry, PG&E ranks second behind First Solar, the extremely successful maker of thin-film solar photovoltaic panels, including those used in at least one project now supplying clean, renewable energy onto PG&E's grid. The magazine notes that First Solar was the first renewable energy company to break into the S&P 500.

In fourth place among energy companies is another renewable power developer under contract to PG&E, NextEra Energy Resources. And in ninth place is Silver Spring Networks, a major partner of PG&E in the deployment of smart meters and future smart grid applications.

Fast Company cites PG&E's decision last September to resign from the U.S. Chamber of Commerce, citing "fundamental differences" with the Chamber's approach to climate change legislation. Noting that PG&E produces only one percent of utility emissions while serving five percent of the total U.S. population, the magazine also praises PG&E's aggressive support of innovative renewable energy companies.

"If only all utilities attacked greenhouse gases with this much . . . energy," it concludes.

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"PG&E" refers to Pacific Gas and Electric Company, a subsidiary of PG&E Corporation.