PG&E's proposal to place most of its generation fleet into a new company and to sell nearly half the firm to investors is taking flak at FERC and the CPUC.
PG&E said in its Q3 report that it expects a $1.15 billion loss from the massive Dixie Fire this summer and has been subpoenaed by federal prosecutors.
PG&E said the Dixie Fire burning in Northern California could hurt its finances but denied it committed crimes in starting last year’s deadly Zogg Fire.
PG&E will sell its iconic San Francisco headquarters to real estate venture Hines Atlas US for $800 million.
The California PUC might implement the strict regimen of oversight and enforcement that PG&E agreed to last year as part of its bankruptcy plan.
An appeals court vacated FERC orders that threatened to force a jurisdictional standoff with the judge overseeing PG&E’s bankruptcy.
PG&E reported a loss of $3.73/share in the second quarter, driven mainly by $2.5 billion in costs to exit bankruptcy and help pay for the 2019 Kincade Fire.
PG&E said it had completed its bankruptcy restructuring, one day after California enacted a law allowing the state to take over the utility if it fails to obey PUC rules.
A judge sentenced Pacific Gas and Electric to $4 million in fines and fees, the maximum allowed under law, for starting the Camp Fire in November 2018.
PG&E's CEO pled “guilty, your honor,” 84 times to involuntary manslaughter as one of the largest corporate homicide cases in U.S. history neared its conclusion.
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