The one-time rebate will only apply to the roughly 738,000 customers who lost power in the Oct. 9 shutoffs. There are no current plans for similar rebates for the three shutoffs that have followed since then, said PG&E spokesperson Tamar Sarkissian, but the utility is “open to having a policy discussion with state regulators and… [Read More]
PG&E Bankruptcy News
News and updates related to PG&E's 2019 Chapter 11 filing
PG&E shares spiked more than 30% Tuesday on news that U.S. Bankruptcy Judge Dennis Montali had appointed a mediator to parse competing bankruptcy reorganization plans.
While calls mount for Pacific Gas & Electric (PG&E) to become a public utility, Governor Gavin Newsom, D-Calif., said he would welcome a sale of the bankrupt company to investor Warren Buffett.
Issuing credits for the shutoff that began Oct. 9 would complicate the utility’s Chapter 11 bankruptcy proceedings, PG&E spokeswoman Lynsey Paulo said.
The governor told Johnson that PG&E must improve its website, which repeatedly crashed as the company prepared to cut electricity to 738,000 customers earlier this month. He also said PG&E needs to ensure that “as few people as possible” are impacted by any future blackouts and reiterated his urging for the company to automatically provide… [Read More]
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.”
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.