PG&E 2014 Annual Report Download - page 6

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ii
Last year regulators approved our plans for substantial new capital projects, including many that are aimed at helping us move in
this direction. This year, we are seeking approval for further investments. Our pending Gas Transmission and Storage Rate Case,
for example, focuses on work to help achieve some of the nation’s toughest state safety standards and add capacity to support
economic growth in California.
As critical as these investments are however, it is equally vital that we keep our service affordable. Average monthly bills for
PG&E customers are among the nation’s lowest. But meeting our long-term goal to keep prices in line with ination will require us
to continue managing costs responsibly and operating as efciently as possible. We also know it is important to make rates simpler
and more equitable for all customers, and we are working with stakeholders to adopt sensible changes.
In all of our work, we are committed to meeting the highest ethical standards. Regrettably, last year we found that certain
interactions between individuals at PG&E and regulators failed that test. In response, we took swift and decisive actions to
strengthen our compliance and prevent this from happening in the future. We are building on those actions with further steps to
ensure transparency and accountability this year.
Ultimately, the condence and satisfaction of our customers are what will determine our success. We know that customers look to
us for more than safe, reliable and affordable service. They expect us to contribute to a better quality of life and a brighter future
for our communities and our state.
I am convinced that PG&E is uniquely positioned to succeed in fullling these expectations. In fact, I believe that no utility is
better prepared to make the most of the opportunities that lie ahead for our customers and investors – or more determined to lead
the way forward in this new era of energy innovation and growth.
On behalf of our 23,000 employees, thank you for following our progress. We look forward to continuing on this journey and
working together to build a better California.
Sincerely,
Anthony F. Earley, Jr.
Chairman of the Board, CEO and President
PG&E Corporation