San Diego Gas & Electric (SDG&E) issued the following statement in response to Moody’s Investor Service (Moody’s) affirming SDG&E’s ratings and changing the outlook to positive from negative.
“We’re pleased with Moody’s action to upgrade our company’s financial outlook to positive. This is a reflection of our robust and effective wildfire prevention initiatives, as well as our timely decision to participate in the provisions of the wildfire fund established under Assembly Bill 1054.
“SDG&E has invested about $1.5 billion in a variety of initiatives and technologies over the past decade to help prevent catastrophic wildfires and is recognized as an industry leader in wildfire mitigation tactics. The investments we have made include building a dense network of weather stations, installing fire-detecting cameras on mountaintops, updating operational protocols, aggressively replacing wood poles with steel poles, and establishing extensive partnerships with public safety agencies and communities to enhance emergency preparedness and response to benefit our customers and our region.”