PG&E Corp. News

Bankruptcy Court Approves PG&E’s Chapter 11 Reorganization Plan

PG&E Corp. said its Chapter 11 reorganization plan has been confirmed by the United States Bankruptcy Court for the Northern District of California, bringing the power provider one step closer to emerging from bankruptcy and participate in a state-backed wildfire …

PG&E Purging Most of Board in Fallout From Bankruptcy, California Wildfires

PG&E Corp. will sweep out three quarters of its board of directors to start with a mostly clean slate when it emerges from a bankruptcy case triggered by deadly wildfires ignited in Northern California by the utility’s neglected electrical grid. …

PG&E Approved by Judge for $23B Bankruptcy Financing Package

Power producer PG&E Corp. said on Monday that it won bankruptcy court approval to use up to $23 billion in financing after California Gov. Gavin Newsom dropped his opposition to those financing commitments. The U.S. bankruptcy court of Northern California …

California and PG&E Reach $1.7B Deal on Wildfire Penalties

California utility regulators have reached a settlement with PG&E Corp. over violations tied to catastrophic wildfires ignited by the company’s power lines in 2017 and 2018. The proposed settlement would prevent PG&E from recovering $1.625 billion in wildfire-related costs from …

Probe Finds PG&E Failed to Inspect Transmission Lines That Caused 2018 Wildfire

Bankrupt California power producer PG&E Corp. did not properly inspect and replace transmission lines before a faulty wire sparked a wildfire that killed more than 80 people in 2018, a probe by a state regulator has concluded. The Caribou-Palermo transmission …

PG&E: Some Fire Victim Claims, Including One for 500-Pound Emerald, Seem ‘Suspicious’

PG&E Corp. says it has found suspicious monetary claims by victims of California’s wildfires, including one from a man who says a 500-pound (227-kilogram) emerald worth $280 million was destroyed at his home a year ago in the most destructive …

PG&E Open to Extending California Wildfire Victim Claims Deadline

PG&E Corp. told a judge it’s willing to extend the deadline for victims of wildfires caused by the utility’s equipment to file claims in its bankruptcy. U.S. District Judge James Donato criticized the company at a hearing last week, saying …

This Wildfire Metric Threatens to Upend PG&E’s Restructuring Plan

PG&E Corp. investors looking to learn their fate may not get the answer from the bankrupt power company. Instead, the key data point could pop up within days on the website of California’s forestry service. That’s where firefighters are tracking …

PG&E Power Shutoffs Hit 2.7M as California Wildfires Burn

Mass power shutoffs by PG&E Corp. left more than 2.7 million Californians in the dark Sunday, the state’s largest deliberate blackout ever, as the bankrupt utility tries to keep its equipment from igniting wildfires during the strongest wind storm in …

Three PG&E Executives Decide When Californian Residents Go Dark to Stop Fires

Since an unprecedented blackout plunged millions of Californians into darkness last week, residents and state officials have questioned how utility giant PG&E Corp. came to the decision to cut the lights. Now they have some answers. In a report filed …