Pacific Gas & Electric Co. News

PG&E Tumbles on Risk of Up to $18 Billion in Fire-Lawsuit Costs

PG&E Corp. shares plunged Monday after a judge ruled that a jury can determine whether it should pay as much as $18 billion in damages to wildfire victims. The California utility giant fell as much 28%, to $10.22, at 9:35 …

Moody’s Says Wildfire Catastrophe Losses the New Normal in Calif.

California had long been a good bet for homeowners’ insurers, with most carriers having no problem recouping paid losses through premiums. But in 2017 and 2018, the state experienced six of the 10 most destructive wildfires in its history and …

California Cities Ask Newsom to Remove Hurdles for PG&E Assets

A new California law, a win for Governor Gavin Newsom, is intended to help utilities cover wildfire liabilities. But it’s also impeding the efforts of cities such as San Francisco that are seeking power independence. Now, they’re pressing Newsom to …

California Regulator Considers Penalty Against PG&E for 2017 Wildfires

California utilities regulator has opened a case to evaluate and consider penalties against power and gas utility PG&E Corp for its involvement in the fierce wildfires that killed 46 people in Northern California’s wine country in 2017. The proceeding will …

‘Avian Incident’ Knocks Out 84% of Massive California Solar Farm

An “avian incident” sparked a fire at one of California’s biggest solar farms, affecting 1,200 acres and knocking out 84% of the California Valley Solar Ranch’s generating capacity. The June 5 incident didn’t damage solar panels at the 250-megawatt power …

Brush Fire Evacuation Closes 2 Southern Calif. Amusement Parks

LOS ANGELES — A brush fire raging along a Southern California riverbed prompted the evacuation of two nearby amusement parks on Sunday, but no homes were threatened and no serious injuries were reported, authorities said. The blaze erupted at about …

PG&E’s Power Suppliers Lose Contract Fight in Bankruptcy Court

The power generators that supply bankrupt utility giant PG&E Corp. were dealt a major blow as a judge ruled that federal regulators can’t keep their supply contracts from getting killed. Power giants including NextEra Energy Inc. and Exelon Corp. had …