The nation's largest utility announced Wednesday it emerged from Chapter 11 bankruptcy and paid $5.4 billion in initial funds and 22.19% of its stock into a trust for victims of wildfires caused by its outdated equipment.
PG&E is reporting a large power outage in San Francisco's Castro neighborhood.
As California prepared for the possibility of a very active wildfire season, PG&E alerted customers to be ready for the possibility of more planned outages, though officials said the next round of Public Safety Power Shutoffs (PSPS) will look different from previous events.
The confirmation order signed by U.S. Bankruptcy Judge Dennis Montali ends the utility's 17 months in the Chapter 11 bankruptcy.
Saturday's decision is a major win for PG&E.
The decision by U.S. Bankruptcy Judge Dennis Montali clears the way for PG&E to pay $25.5 billion for losses from devastating fires in 2017 and 2018.
The maximum penalty assessed by Butte County Superior Court Judge Micahel Deems was a mere formality, given that PG&E reached a plea agreement three months ago to resolve manslaughter and other charges.
A U.S. bankruptcy judge in San Francisco on Wednesday tentatively approved PG&E's $58 billion plan for exiting its Chapter 11 bankruptcy.
The speakers tearfully told of holiday and birthday celebrations that will never be celebrated after their loved ones perished in the November 2018 fire that nearly wiped out Paradise, California.
PG&E CEO Bill Johnson entered guilty pleas Tuesday on behalf of the company for 84 felony counts of involuntary manslaughter stemming from the fire, which was blamed on the company’s crumbling electrical grid.
Pacific Gas & Electric is expected to plead guilty to 84 felony counts of involuntary manslaughter during a court hearing in which the nation’s largest utility will be confronted with its history of neglect and greed that culminated in a wildfire that wiped out most of a Northern California town.
Intersections where traffic signals are out should be treated by drivers as four-way stops, police said.
PG&E, now in the final phase of Chapter 11 proceedings, filed for bankruptcy protection in January 2019 in the face of billions of dollars of claims for wildfires in the North Bay in 2017 and Butte County in 2018.
The company said it plans to sell its two downtown San Francisco properties to save money on real estate costs, then make the move by 2023.
PG&E’s plan won support last week in a landslide, with victims overwhelmingly backing PG&E’s $58 billion proposal to emerge from bankruptcy after a year-and-half.
An underground transformer in San Ramon is the cause for a power outage affecting 4,361 customers Monday night.
California Public Utilities Commission President Marybel Batjer was irked by the need to postpone the vote because of the email sent Tuesday by Will Abrams, a survivor of a 2017 wildfire that tore through his Santa Rosa hometown.
PG&E crews are still at the scene on Sycamore Valley Road, according to police.
U.S. District Judge William Alsup imposed the conditions last month as part of the utility's probation in a criminal pipeline safety case.
Hundreds of households in Concord will lose power Friday, on what is expected to be the hottest day of the year.