Pacific Gas & Electric News

PG&E Faces Fresh Pain as Old Fire Claims Return to Haunt It

Seven months after a state agency absolved PG&E Corp. of blame for a deadly 2017 wildfire, the utility giant faces the potential of billions in new legal liabilities — and it’s unclear how it would pay for them. Despite the …

PG&E Took 8 Months to Prune a Tree at Risk of Catching Fire

It was on July 12 — only after an inspector raised the alarm — that PG&E Corp. finally pruned a tree in a fire-prone area. Its leaves had already been singed as wind gusts blew them into a power line …

Hedge Funds Buy Almost $500 Million in Claims From PG&E Vendors

Bankrupt utility giant PG&E Corp. owes a lot of money to a lot of businesses. A tree-trimming service. A California car dealership. A laundromat. Construction contractors galore. Now, hedge funds including Olympus Peak Asset Management LP and Whitebox Advisors LLC …

PG&E Says It Will File Reorganization Plan in Less Than a Month

PG&E Corp. says it expects to file its plan for reorganization with the bankruptcy court by Sept. 9 and sees emerging from Chapter 11 protection by May 1, according to a filing Monday. The bankrupt utility says in the filing …

PG&E Posts $2.6 Billion Loss Stemming From Bankruptcy, Wildfires

PG&E Corp., the bankrupt California utility giant, reported a $2.6 billion second-quarter loss and said it expects more charges this year tied to wildfires that devastated the state in 2017 and 2018. The company, which didn’t provide an outlook for …

PG&E Disagrees With WSJ Story Over Power Line Upgrades

PG&E Corp. told a judge it “strongly disagrees” with a Wall Street Journal storysuggesting that the utility knew its equipment near the ignition point of California’s deadliest wildfire badly needed upgrades and nonetheless deferred maintenance. The company’s response, filed Wednesday, …

Insurers Offer Competing Plan to Rescue PG&E from Bankruptcy

SAN FRANCISCO — Insurance companies contending that Pacific Gas & Electric owes them more than $20 billion from wildfire claims want to take over the California utility and pull it out of bankruptcy. The insurers filed court documents Tuesday to …

California’s Fire ‘Bailout’ for PG&E, Edison Clears Hurdle

Utility giants PG&E Corp. and Edison International are one step closer to getting California’s help in covering the costs of increasingly catastrophic wildfires that their equipment keeps igniting. The state Senate passed a bill late Monday that would create a …

PG&E, Edison May Not Get California Help on Fires by July 12

California’s biggest utilities — PG&E Corp., Edison International and Sempra Energy — may not get the help they need to deal with multi-billion dollar wildfire liabilities before lawmakers adjourn July 12 for recess. Governor Gavin Newsom signaled that pending legislation …

PG&E Is Already Starting Fires Again, Just Weeks Into the Season

Just a few weeks into California’s dry summer season, fires linked to Pacific Gas & Electric Corp. have already started to break out. More than 2,000 acres burned in Monterey County this week, with power lines blamed as the cause. …