Federal prosecutors are urging the federal judge overseeing PG&E’s criminal probation to reconsider a proposed order that would require the beleaguered utility to conduct a sweeping reinspection of its power facilities to ensure they are wildfire-safe.
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PG&E Corp. expects its looming bankruptcy to take about two years to resolve and has arranged $5.5 billion to fund its operations during the process. Its shares and bonds both gained.
“For the good of our state, we must focus on how we can safely adapt our systems to what Jerry Brown described as “the new abnormal.” If we don’t, every Californian will be paying the price for policies that don’t match our priorities,” IBEW 1245 Business Manager Tom Dalzell writes in CalMatters.
The plan for Pacific Gas and Electric, the California utility, to enter bankruptcy to manage its $30bn wildfire liabilities has sent shockwaves through the US energy industry, raising concerns about the outlook for investment in renewable power in the state and beyond.
CAISO market participants and companies that do business with Pacific Gas and Electric could end up paying a hefty price for the giant utility’s financial collapse.
PG&E Corp.’s bankruptcy could mark a business milestone: the first major corporate casualty of climate change. Few people expect it will be the last.
The U.S. Energy Department has backed renewable-energy projects contracted to supply power to PG&E with a total of $8.3 billion in loans and loan guarantees. And a bankruptcy filing — which PG&E plans to make as soon as month’s end — threatens those power-purchase agreements, along with several others signed years ago when green-power prices were much… [Read More]
The head of the San Francisco Public Utilities Commission says Monday’s announcement by Pacific Gas & Electric that it plans to file for bankruptcy protection has led the city to consider buying some of PG&E’s electricity distribution system.
PG&E has released new details about the start of one of California’s most devastating wildfires — the October 2017 Tubbs Fire — in a court filing that appears to shift blame onto a handyman the company says performed unlicensed electrical work on a rural property near Calistoga.