Midway through 2019, California lacks a comprehensive plan to deal with the growing threat.
PG&E Bankruptcy News
News and updates related to PG&E's 2019 Chapter 11 filing
California’s crusade to turn its electricity grid green is running into an increasingly serious obstacle: PG&E Corp.’s bankruptcy.
PG&E Corp. has spoken to lawmakers about putting together a pool of capital worth about $11 billion to settle claims related to wildfires blamed on the bankrupt California utility, according to people familiar with the matter.
A group of PG&E Corp. creditors could preempt the embattled California utility’s own attempt to claw its way out of bankruptcy by presenting a restructuring plan that could be worth at least $45 billion, according to people familiar with the matter.
U.S. Bankruptcy Judge Dennis Montali allowed PG&E to establish the fund despite criticism from wildfire victims’ attorneys who argued the amount falls far short of what the company should provide.
Attention IBEW 1245 Retirees in and around Sacramento and the Bay Area, You’re invited to a special briefing on the PG&E Bankruptcy, led by IBEW 1245 Sr. Assistant Business Manager Bob Dean. The briefing will be held on Wednesday, May 29th, 2019 from 10am to 11am at the 1245 Union Hall located at 30 Orange… [Read More]
FOR IMMEDIATE RELEASE Contact: Rebecca Band, IBEW 1245 (510) 326 0897 RGB1@IBEW1245.com VACAVILLE, CA — As the union representing thousands of workers employed by PG&E and its contractors, IBEW 1245 strongly supports the establishment of a special fund to provide critical assistance for the individuals who have been impacted and displaced by the wildfires. IBEW… [Read More]
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.
IBEW 1245 Assistant Business Manager Hunter Stern appeared on a ClimateOne panel entitled “How Climate Broke California’s Biggest Utility.” In the excerpt below, he discusses the future for PG&E workers. Listen to the full recording here.