April 25 (Reuters) - Power company PG&E Corp ( PCG )

beat Wall Street estimates for first-quarter profit and raised

its full-year earnings forecast on Thursday, helped by lower

operating expenses, wildfire-related costs and higher tariffs.

Last year, California Public Utilities Commission (CPUC)

voted on a rise in the utility's base rate case that would raise

customer bills by nearly 13%. Utility companies use rate case

proceedings to increase consumer electricity prices, asking for

a rate increase based on the total service cost.

The company's operating expenses were down 17% to $4.59

billion in the quarter compared to the same quarter a year

earlier, partly due to lower fuel costs.

Lower costs related to the Wildfire Fund amortization expense

also helped the earnings of the company.

In January, the CPUC also approved a $45 million settlement

for the utility's part in the destructive 2021 Dixie wildfire,

which in 2021 resulted in more than 963,000 acres being burned

across multiple counties.

The Oakland, California-based company raised its 2024 GAAP

earnings forecast range to $1.15 to $1.20 per share, up from the

previous range of $1.10 to $1.14.

On an adjusted basis, PG&E ( PCG ) reported a profit of 37 cents per

share beating analysts' estimates of 35 cents per share,

according to LSEG.

PG&E ( PCG ) is the parent company of Pacific Gas and Electric

Company, an energy company that serves 16 million Californians

across a 70,000-square-mile service area in Northern and Central

California.