PG&E, in a 16-page summary to the PUC of last week’s blackout, said it’s possible it could shut down power to all customers if weather conditions dictate, although it said “the likelihood of an event of this scale occurring is extremely low.”
PG&E Bankruptcy News
News and updates related to PG&E's 2019 Chapter 11 filing
The utility on Tuesday gave updated estimates regarding equipment damage suffered during the critical fire weather conditions, saying that inspectors have discovered more than 100 confirmed cases of damage or hazards to power lines, double the estimate given Saturday evening.
Below are some answers to questions that we are getting from members concerning a letter sent out by PG&E’s third-party independent fiduciary, Gallagher, notifying participants in the PG&E 401k plan of the imposition of a limit on contributions to and investment exchanges into the PG&E Stock Fund, effective November 1, 2019. Who does the limit… [Read More]
A judge turned the PG&E Corp. takeover fight into a free-for-all Wednesday, ruling that Wall Street hedge funds trying to seize control of the troubled California utility can begin pressing their case right away.
PG&E Corp. shares tumbled in the aftermath of a court ruling that threatens to put the fate of the bankrupt company in the hands of outsiders.
Pacific Gas & Electric (PG&E) has lined up $34.4 billion in debt financing to support its reorganization plan, the company told the U.S. Bankruptcy Court for the Northern District of California on Friday.
PG&E said its equipment may have caused nine wildfires, each covering at least 10 acres, as of Sept. 17, according to a report submitted Tuesday to a San Francisco federal judge. That’s down from 19 fires of comparable size for the same period a year ago, according to data filed with the California Public Utilities Commission.
The California Public Utilities Commission on Thursday launched a formal proceeding to consider the “ratemaking and other implications” of Pacific Gas & Electric’s proposed plan of reorganization.
PG&E’s largest union is staunchly opposed and has worked publicly and privately to undermine San Francisco’s efforts. The powerful organized labor group, which represents 12,000 PG&E employees, has created a website, sfprioritycheck.com, that criticizes the notion of San Francisco forming the state’s third-largest government-owned electric utility.
The California Public Utilities Commission issued a proposed decision Monday that would authorize the state’s investor-owned utilities to collect $902.4 million annually for a wildfire mitigation fund authorized by state lawmakers this summer.