PG&E Corp. News

PG&E Judge Says Bankrupt Utility Violated Probation Terms

The federal judge overseeing PG&E Corp.’s criminal probation lashed out at the company for falling “far behind” on fire safety progress as he considers whether to make the bankrupt California utility owner hire more tree trimmers and restrict how it …

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 …

Traditional Ways of Paying for Fires and Floods Aren’t Cutting It

Fires and floods are sending some of the nation’s largest utilities to the bond market to cover huge, unexpected bills. California’s PG&E Corp., which was forced into bankruptcy a year ago after its equipment sparked the deadliest wildfire in state …

PG&E Vows to Reduce Scope of Deliberate Blackouts to Stop Fires

PG&E Corp. said it aims to shrink the breadth and duration of intentional blackouts during California’s wildfire season as part of a $2.6 billion plan aimed at improving safety. The bankrupt utility giant wants to reduce the average geographic reach …

PG&E Power Line Hooks Found Wrapped in Tape, Fire Victims Say

A recent inspection of a PG&E Corp. transmission line uncovered equipment issues similar to those cited as the cause of the deadliest fire in California history, according to lawyers for wildfire victims. During a December inspection, an expert for the …

PG&E Surges on Plan for Board Overhaul in Bankruptcy Exit

PG&E Corp. shares jumped after the company outlined plans to overhaul its board of directors, bring in safety experts and create regional operating units in a broad reorganization proposal aimed at winning state approval for its bankruptcy exit. PG&E detailed …

PG&E Judge Demands Details on Potential Wildfire Payout Conflict

Time is running out for PG&E Corp. to end the biggest-ever U.S. utility bankruptcy, so the company must set reorganization deadlines and explain a potential conflict in its multi-billion dollar payout proposal, a federal judge said Wednesday. U.S. Bankruptcy Judge …

PG&E Tries to Assure Strict Judge It’s Safer on Wildfires

PG&E Corp. told a federal judge who has kept the troubled utility under a tight leash that it’s close — but not fully on target — to complying with all the wildfire prevention measures required under its criminal probation. The …

PG&E Nearing Deal With Pimco, Elliott on Restructuring Plan

PG&E Corp. is nearing a deal with a group of bondholders led by Pacific Investment Management Co. and Elliott Management Corp. that would entitle them to a mix of equity and new debt if they scrap their rival restructuring plan, …

PG&E, Newsom Clash Over a Clause That May Allow State Takeover

A clause that would allow California to take over bankrupt utility giant PG&E Corp. under certain circumstances has emerged as a big sticking point in negotiations between the company and Governor Gavin Newsom. Newsom wants the power company to include …