It’s no secret that California Governor Gavin Newsom wants to create a fund that the state’s electric utilities can tap to cover the costs of catastrophic wildfires. Now, the utilities know what he wants in return. Based on a proposal …
SACRAMENTO, Calif. — Facing more wildfires and the lawsuits that come with them, a group of public and private California water systems want lawmakers to shield them from having to pay damages caused by fires they did not start but …
Pacific Gas & Electric Corp. received approval Wednesday to establish a $105 million fund to help survivors of recent California wildfires started by the utility’s equipment. A federal judge overseeing PG&E’s bankruptcy case approved the utility’s wildfire assistance program to …
California investigators have determined that PG&E Corp.’s power lines ignited the deadliest blaze in state history, opening the door for more liabilities that the company has already warned may exceed $30 billion. A transmission line owned by PG&E sparked the …
California is just one month away from the official start of wildfire season and bankrupt utility giant PG&E Corp. is running behind on inspections, repairs and tree-trimming that was ordered up to reduce the risk of another devastating blaze. PG&E, …
SAN FRANCISCO — PG&E Corp can pay employees up to $350 million in bonuses this year to spur them to help meet the bankrupt California power provider’s safety goals to prevent wildfires, a judge said on Tuesday. PG&E’s management has …
Utility giant PG&E Corp. capped its best day since going bankrupt in January thanks to California’s governor. Gavin Newsom called on lawmakers on Friday to find a way to help the state’s utilities cover the costs of devastating wildfires — …
Creation of a catastrophic wildfire risk pool is emerging as the most likely option as California lawmakers seek to protect the solvency of investor-owned utilities from record payouts for fire damages. PG&E filed for a bankruptcy reorganization this year, saying …
The warning couldn’t have been clearer. As PG&E Corp. plunged into bankruptcy last month, S&P Global Ratings slashed credit grades almost to junk status for California’s two other big electric utilities, owned by Sempra Energy and Edison International, and said …
As PG&E Corp. hurtles toward bankruptcy, a once-obscure legal doctrine with an awkward name certainly bears a portion of the blame. Known as inverse condemnation, it holds California utilities responsible for wildfire damage caused by their equipment – whether the …