Nearly a year and a half after collapsing under $30 billion in liabilities from wildfires sparked by its equipment, PG&E Corp. has emerged from the biggest utility bankruptcy in U.S. history. The California power giant said in a statement Wednesday that it had successfully completed its restructuring and exited Chapter 11.

Effective Tuesday, Johnson will retire, handing control of California’s largest utility to a successor who also faces a new set of problems. The task of the next top executive, Bill Smith, is to keep the company stable while beginning to steer it away from its catastrophic past.

Pacific Gas & Electric (PG&E) parent company PG&E Corp. has launched public offerings of its common stock and equity units, seeking $4 billion and around $1.23 billion of gross proceeds, respectively, to partially fund its exit from bankruptcy, the company announced Monday The announcement comes two days after Bankruptcy Judge Dennis Montali confirmed PG&E’s Chapter 11… [Read More]

Today Judge Dennis Montali of the United States Bankruptcy Court confirmed the PG&E Plan of Reorganization (POR).  This is a major step in the bankruptcy process. What this means to our membership is the POR is now approved by the court and the plan terms will be in effect as of the plan Effective Date. … [Read More]