California News

PG&E Exits Bankruptcy After Wildfires Pushed It to Brink of Ruin

Nearly a year and a half after collapsing under $30 billion in liabilities from wildfires sparked by its equipment, PG&E Corp. has emerged from the biggest utility bankruptcy in U.S. history. The California power giant said in a statement Wednesday …

California Prepares for More Wildfires as Coronavirus Challenges Budget

SACRAMENTO, Calif. — California has had 60% more wildfires so far in 2020 than last year because of drier weather, Governor Gavin Newsom said on Wednesday, and he promised increased funding for firefighting even as the state’s budget faces a …

California Virus War Slams Into Its Other Crisis: Wildfires

A crisis California didn’t foresee — the Covid-19 pandemic — is complicating preparations for one that arrives with a vengeance every year. With wildfire season on the horizon, state officials have ordered prevention efforts to proceed after rains have tapered …

PG&E Won’t Make Victims of Deadly Fire Pay Its Criminal Fine

PG&E Corp. won’t tap a fund for wildfire victims to pay $4 million in fines and expenses for involuntary manslaughter, avoiding a possible hurdle to its exit from bankruptcy. Insurers with claims against PG&E in bankruptcy agreed to wait 15 …

PG&E Fire Victims Warn Market Turmoil Endangers Their Settlement

Market turmoil from the coronavirus is spilling into the bankruptcy of California power giant PG&E Corp. Victims of wildfires blamed on PG&E’s equipment are concerned the sell-off on Wall Street could hobble stock payments that make up half of a …

PG&E to Plead Guilty to Involuntary Manslaughter for Fire

PG&E Corp. agreed to plead guilty to involuntary manslaughter in connection to the deadliest wildfire in California history. The bankrupt utility will pay $4 million in fines for its role in the 2018 Camp Fire, which was sparked by PG&E …

PG&E Wins Approval of $23 Billion Bankruptcy Financing Package

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. U.S. Bankruptcy Judge Dennis Montali …

California Blackouts Boost Demand for Power Storage

Power cuts during California’s devastating wildfire season have boosted demand for combined solar panels and battery storage solutions as businesses look to mitigate economic damage from future blackouts. Billions of dollars in economic activity were lost from mass power shutoffs …

Earthquake Risk Prompts Order to Drain California Dam

SAN JOSE, Calif. — Worried that an earthquake could collapse a big dam south of San Francisco, officials have ordered its reservoir to be completely drained by October to reduce the risk of floodwaters spilling into Silicon Valley. The 240-foot …

PG&E Tries to Steer Judge Away From Fire Safety Crackdown

PG&E Corp. told a federal judge it opposes his proposals to intervene in the company’s wildfire prevention efforts after it admitted to not fully complying with the terms of its criminal probation. The bankrupt northern California utility’s pushback is a …