PG&E Bankruptcy News

This morning, PG&E and the Butte County District Attorney announced that PG&E had been indicted on multiple counts of involuntary manslaughter as a result of the 2018 Camp Fire, that PG&E had entered a guilty plea to the charges, and that PG&E had agreed to the maximum penalty, which amounts to approximately $4 million.  While… [Read More]

California Gov. Gavin Newsom on Friday dropped his opposition to PG&E Corp.’s plan to emerge from bankruptcy protection after striking a deal requiring certain concessions from the company.

The biggest utility bankruptcy in U.S. history appears to be drawing to a close after PG&E Corp. reached a deal with California Governor Gavin Newsom over the company’s restructuring plan. The agreement calls for PG&E to put itself up for sale if the bankruptcy court doesn’t approve its plan by June 30 or if the… [Read More]

The troubled California utility is agreeing to limit payouts to shareholders to satisfy Gov. Gavin Newsom in its effort to emerge from bankruptcy and qualify for a state wildfire fund.

PG&E Corp. and Gov. Gavin Newsom have made a deal on overhauling PG&E’s operations, removing one of the last remaining obstacles to the utility’s efforts to exit bankruptcy. Newsom’s office announced Friday that PG&E will commit billions of dollars in additional spending to prevent wildfires, meeting one of his critical demands.

PG&E Corp. won bankruptcy court approval to use up to $23 billion in financing after California Governor Gavin Newsom dropped his opposition, clearing a crucial obstacle to the power company’s push to exit Chapter 11.

FEMA has agreed to reduce its ask to $1 billion and have its claims subordinated to those filed by victims of the wildfires, according to attorneys at the Tuesday hearing. The California Governor’s Office of Emergency Services would also withdraw its its claims of around $2.7 billion — which represents costs incurred by it as well… [Read More]

A 3-inch hook purchased for 56 cents around the end of World War I could help determine whether PG&E Corp faces criminal charges for starting the deadliest wildfire in California history.

Concluding PG&E Corp.’s bankruptcy was always going to be an extremely expensive undertaking, but the company has recently provided a clearer sense of just how costly the process will likely become.

Lawyers for Pacific Gas & Electric said the utility can’t commit to hiring hundreds more tree trimmers in the way that a federal judge wants to cut the risk of starting more catastrophic wildfires in California.