The City and County of San Francisco (the “City”) has initiated work to evaluate the cost and feasibility of acquiring PG&E’s electric distribution facilities that serve San Francisco.
PG&E Bankruptcy News
News and updates related to PG&E's 2019 Chapter 11 filing
San Francisco’s Version of a Green New Deal Is a PG&E Takeover (via Bloomberg)
What happens when a famously left-leaning city dives into the buttoned-down business of electric utilities? San Francisco may soon find out.
TVA Chief Is Front-Runner for Bankrupt PG&E’s CEO Job (via Bloomberg)
The person to lead California energy giant PG&E Corp. out of the biggest utility bankruptcy in U.S. history may be Bill Johnson, the outgoing chief of the federally operated power agency Tennessee Valley Authority.
California Weighs Overhauling Utility Regulator After PG&E Bankruptcy (via Wall Street Journal)
Gov. Gavin Newsom is considering overhauling California’s regulator of power and water companies as he and other state leaders race to prepare for another wildfire season.
How California Blazes Crippled a Giant Utility (via Bloomberg Businessweek)
To the extent that California’s heightened flammability is related to climate change, it’s not just PG&E’s problem. A Feb. 19 report from S&P Global found it “entirely possible” that the 2019 fire season would force one of California’s other investor-owned utilities into bankruptcy
Hedge fund BlueMountain nominates Jeff Ubben and 12 others to PG&E board (via CNBC)
BlueMountain Capital, a hedge fund with a significant stake in embattled California utility PG&E, announced Friday that it has nominated 13 candidates for election to the company’s board.
The PG&E Bankruptcy and the Coming Climate-Related Business Failures (via The New Yorker)
The case of P.G. & E. illustrates the complexity of assigning responsibility in cases where preexisting problems are exacerbated by a changing climate.
Dalzell to PG&E: Reconsider STIP for Regular Wage-Earners
In response to the company’s decision to cancel the 2018 STIP payments, IBEW 1245 Business Manager Tom Dalzell sent the letter below to PG&E Interim CEO John Simon today. John, While the number of Local 1245 who are STIP-eligible is dwarfed by the number represented by the ESC and the number of non-bargaining-unit employees, an… [Read More]
Splitting Up PG&E Would Not Make It Safer
On Feb. 22, a misleading opinion article appeared in the Sacramento Bee with the headline, “PG&E says splitting utility would improve wildfire safety, but there’s a downside.” We’d like to take a moment to set the record straight and dispel some misinformation. In the article, columnist Dale Kasler cites PG&E’s latest CPUC filing and erroneously… [Read More]
PG&E Cancels STIP Payments for 2018
Earlier this year, PG&E had asked the PUC to approve $130 million to pay its annual STIP (short-term incentive plan) compensation to salaried employees (other than officers). On Friday, Feb. 22, PG&E announced that it has cancelled the 2018 STIP payments due to bankruptcy. The annual STIP payment is not a bonus, despite how it… [Read More]
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