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

second-quarter profit estimates on Thursday, helped by higher

service rates.

The company has benefited from increased electricity rates

after the California Public Utilities Commission (CPUC) last

year approved PG&E's ( PCG ) infrastructure plan that led to higher

customer bills.

Revenue at the company's electric segment rose 15.7% from a

year earlier, while expenses from its wildfire fund fell by a

third.

The company, however, slashed its 2024 GAAP earnings

forecast, citing costs related to unrecoverable interest

expenses and wildfire liabilities.

PG&E ( PCG ) has been blamed for sparking numerous wildfires over

the years, including some of California's deadliest. The

liability claims related to wildfires have caused substantial

financial burden on the company, which has now been making

investments to improve the reliability of its power grid.

The company's full-year earnings are expected to be in the

range of $1.11 to $1.17 per share, compared with its prior

forecast of $1.15 to $1.20.

On an adjusted basis, PG&E ( PCG ) reported a profit of 31 cents per

share in the second quarter, beating analysts' average estimate

of 30 cents, according to LSEG.

PG&E Corp ( PCG ) is the parent organization of Pacific Gas and

Electric Company, an energy utility that serves about 16 million

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

California.

Shares were trading up 1.8% premarket.