Pacific Gas and Electric Company, a business wing of
PG&E Corporation
(
PCG
), announced that it has incorporated the new advanced hand-held
laser scanner device, EXAscan, to improve natural gas pipeline
safety. The revolutionary device offers accurate and effective
means to maintain the safety and reliability of the
pipelines.
As per the company's Pipeline Safety Enhancement Plan
("PSEP"), the technology will complement other safety measures
employed by PG&E to assess, repair and replace pipelines
lying in its service coverage areas.
EXAscan beats the orthodox ways of manually detecting pipeline
corrosion and is rather a more time-saving and cost-efficient
option for industry players. The technology will enable Pacific
Gas and Electric to obtain information regarding any corrosion
within minutes. This would help the company evaluate and make
prompt decisions about pipeline operations.
The laser tool was manufactured by privately held Canadian
company Creaform and works by placing the device a few inches
above a pipeline section which then gives a color coded three
dimensional picture on the monitor and spots any probable
hazardous signs like dents or warping and corrosion inside the
pipelines.
EXAscan's capabilities are not confined solely to PG&E's
natural gas pipelines. The device can also be utilized in
performing stress tests in hydroelectric infrastructures.
PG&E's engineers recently conducted stress tests to determine
the reliability of the rotors at the Helms Pumped Storage Plant
in Oakhurst-North Fork, California.
We believe this state-of-the-art device will minimize chances
of pipeline accidents resulting from infrastructural glitches and
ensure the timely and smooth supply of electricity to customers.
PG&E has also been fitting the latest Smart Grid technology
and powering more than 400 of its distribution circuits.
However, these modernization programs would cost the company
substantially. Unless recovered by regulatory base cases, the
costs may spill over to the customers' bills. PG&E currently
holds a Zacks Rank #3 (Hold).
Another Zacks Ranked #3 operator in the utility domain to look
out for is
FirstEnergy Corporation
(
FE
).
Headquartered in San Francisco, California, PG&E
Corporation is engaged in electricity and natural gas
distribution; electricity generation and transmission; and
natural gas procurement, transportation, and transmission and
storage operations. The company has a market cap of $17.47
billion.
FIRSTENERGY CP (FE): Free Stock Analysis
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PG&E CORP (PCG): Free Stock Analysis
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