In response to the report entitled “Wildfires and Climate Change: California’s Energy Future,” released by Gov. Newsom’s strike team today, IBEW 1245 Business Manager Tom Dalzell issued the following statement: “IBEW Local 1245 has participated in give-and-take discussions with the Governor’s staff over the last several months leading up to the formulation of the strike… [Read More]
PG&E Bankruptcy News
News and updates related to PG&E's 2019 Chapter 11 filing
The strike force report sets out steps the state must take to reduce the incidence and severity of wildfires, including the significant wildfire mitigation and resiliency efforts the Governor has already proposed. It renews the state’s commitment to clean energy. It outlines actions to hold the state’s utilities accountable, as well as recommended changes to… [Read More]
Officials were struggling Wednesday to find ways for homeowners to afford insurance in fire-prone areas of California and for utilities to survive liability from devastating wildfires that threaten to worsen with climate change.
BlueMountain Capital Management is in discussions about potentially replacing some of the three incumbent directors on the 13-member board, said the people, who asked not to be identified because the talks weren’t public. The investment firm, which owns a 2.5 percent stake in the company, had nominated its own directors who were passed over in favor… [Read More]
California utility regulators are asking state lawmakers for $28 million to pay for help they want to use in the Pacific Gas and Electric Co. bankruptcy case.
A U.S. bankruptcy judge on Tuesday deferred a ruling on whether to approve a PG&E Corp plan to pay up to $350 million in bonuses to 10,000 employees, saying he wants more details from the California power producer that is facing bankruptcy following last year’s wildfires.
“On behalf of our 12,000 members at PG&E, we would like to express our congratulations to PG&E’s new Board of Directors, and offer a welcome to the company’s incoming CEO, Bill Johnson. “While we do not yet have personal relationships with the new members of the Board, we respect their experience and appreciate the expertise… [Read More]
The company says the changes in leadership reflect PG&E’s focus on strengthening its safety culture and operational effectiveness and successfully navigating the Company’s Chapter 11 process.
PG&E Corp., the bankrupt California power giant facing $30 billion in wildfire liabilities, is nearing a deal with a group of investors that includes naming Bill Johnson as chief executive officer and overhauling its board, according to people familiar with the matter.