PG&E announced in San Francisco Monday that it has given up a controversial plan to pay a $4 million criminal fine to Butte County out of a proposed $13.5 billion trust to compensate wildfire victims.
Pacific Gas and Electric announced on Friday they are donating nearly one million surgical and N95 masks to help support health care professionals in the battle against the COVID-19 pandemic.
Pacific Gas & Electric and California Gov. Gavin Newsom announced a deal Friday that removes one of the last hurdles for the nation’s largest utility to emerge from a bankruptcy triggered by its massive liabilities from wildfires.
Pacific Gas & Electric got court approval to raise $23 billion to help pay its bills over destructive California wildfires.
In the thick of a coronavirus pandemic, Pacific Gas & Electric is providing a bit of relief to some of its customers.
PG&E says it will not shut off power to any of its customers for non-payment during the coronavirus pandemic.
Pacific Gas & Electric told a federal bankruptcy judge Tuesday that it has settled a dispute with disaster-relief agencies that threatened to siphon money away from a $13.5 billion fund earmarked for victims of catastrophic wildfires in California caused by the nation’s largest utility.
The record penalty imposed in an administrative law judge’s decision boosts a previously agreed upon $1.7 billion settlement announced in December.
Instead, the deal has sparked confusion, resentment, suspicion and despair as the victims, government agencies and lawyers grapple for their piece of the pie.
The judge blasted PG&E for its abysmal track record since its probation began in January 2017. In that time, PG&E's aging power lines have been blamed for igniting a series of catastrophic wildfires that killed nearly 130 people and destroyed thousands of homes.
PG&E wound up losing nearly $7.7 billion last year, widening from its previous record loss of $6.8 billion in 2018.The projections released Tuesday by PG&E envision the company rebounding this year with a profit of $454 million.
Under the bill, the state attorney general or a district attorney would have the authority to take utility companies to court and hold them liable for up to $100,000 per day for each violation.
More than 9,000 San Francisco Pacific Gas and Electric customers were without power Wednesday night, the utility confirmed.
Authorities have said the deadliest wildfire in California history killed 85 people. But the newspaper reported Tuesday that it had identified at least 50 more people whose deaths were linked to the fire but not attributed to it.
Among those served with a subpoena are San Francisco-based Pacific Gas & Electric, Webcor builders, Pankow construction, Clark construction, Recology waste services, and the nonprofits Lefty O'Doul's Foundation for Kids, the San Francisco Parks Alliance, and the San Francisco Clean City Coalition.
Pacific Gas & Electric is still operating a rickety power line near the one that ignited a 2018 wildfire that wiped out the Northern California city of Paradise and killed 85 people, according to an expert inspection conducted as part of a legal claim.
The San Francisco company pledged to bring in new directors, without specifying how many, but hasn't said if it will tweak its financial plan.
State Sen. Scott Wiener, D-San Francisco, announced Monday he plans to propose a law to have the state take over PG&E and run it as a publicly owned utility.
"My bill will ensure school districts are made financially whole while providing a mechanism to offer makeup days for students who have missed classroom time," Dodd said.
Under the agreement, the bondholders will withdraw their proposal and support PG&E's plan, known as the Restructuring Support Agreement, if U.S. Bankruptcy Judge Dennis Montali approves the plan.