PG&E reported an increase in Q1 2024 earnings with adjusted core EPS of $0.37, surpassing estimates of $0.34, although revenue fell short at $5.86 billion compared to the expected $6.83 billion. The company raised its full-year EPS forecast from $1.10-$1.14 to $1.15-$1.20 and maintained its adjusted core EPS forecast at $1.33-$1.37, forecasting no equity needs in 2024. Concurrently, PG&E defended its recent electricity rate hikes, which have led to significant backlash from Californians facing increased utility bills. The company announced a 28% rise in profits for the quarter and noted that average residential customer bills have risen by approximately $34.50 monthly. PG&E's rates are now nearing those of Hawaii, which has the highest power costs in the U.S.