The deadliest and most destructive wildfire in California history, which killed 85 people and wiped out almost an entire town of 27,000, was caused by PG&E power equipment, state officials announced Wednesday.
Learn about the competitive challenges and other new developments in the energy and utility industries.
A report released Monday from the San Francisco Public Utilities Commission (SFPUC) concludes public ownership of San Francisco’s electric grid “has the potential for significant long-term benefits relative to investment costs and risks.” The city has been trying to reduce its reliance on PG&E for more than two decades.
PG&E Corp. filed quarterly earnings on Thursday, revealing that the corporation and its utility subsidiary Pacific Gas & Electric are facing an investigation by the U.S. Securities and Exchange Commission (SEC) into “public disclosures and accounting for losses” related to the 2015 Butte fire as well as 2017 and 2018 fires.
California regulators have proposed guidelines for how investor-owned electric utilities (IOUs) should notify customers in the event power lines must be de-energized, including development of a statewide education campaign about the Public Safety Power Shut-offs (PSPS) which are designed to reduce the risk of equipment sparking a wildfire.
When dangerously high winds arise this year, the utility says it will black out fire-prone areas that are home to 5.4 million people.
Community Choice Aggregators (CCA) are expected to procure the majority of new resources in California in the next decade, and their renewables-heavy portfolios must be balanced against broader system needs, said regulators.
A well-built catastrophic wildfire fund can both protect citizens and save utilities.
PG&E Corp. reached a deal to replace one of its board members with a director proposed by an activist investor, while also naming a former federal safety official as an adviser to help guide the bankrupt utility’s restructuring.
Pacific Gas & Electric on Monday requested that California regulators raise its return on equity from 10.25% to 16%, adjustments the utility says are necessary to attract capital for safety and reliability investments amid growing wildfire risks.
Gov. Gavin Newsom is right that California needs a new way to pay for the damage caused when power lines spark massive wildfires that destroy property and kill people and animals. Fires have ravaged the state over the last two years, and experts say this may be California’s “new normal.” And although the governor wants… [Read More]