California Rejects PG&E Bid for Minority Sale Amid KKR Talks [Financial Post (Toronto, Ontario, Canada)]
Pacific Gas & Electric Co. (PCG)
Last pacific gas & electric co. earnings: 5/1 08:21 am
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — California regulators rejected PG&E Corp.'s proposal to spin off and sell a minority stake of its power generation business to raise funds for its operations. PG&E said last week that it was in talks to sell the the stake in its hydroelectric, natural gas, solar and battery storage facilities to investment firm KKR & Co. The company said the transaction would reduce customer rates by $100 million over the next 20 years and improve its credit profile. PG&E has also said that the funds from a sale would help make a payment to a trust fund dedicated to paying back recovery bonds issued to cover wildfire losses. Article content Article content The California Public Utilities Commission voted against the proposal for a spin off and sale on Thursday, saying in its decision that PG&E hadn't shown how the move would be a superior alternative for raising
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- Why your electricity bill might go up as early as next year [Los Angeles Times (CA)]Los Angeles Times
PCG
Earnings
- 4/25/24 - Beat
PCG
Sec Filings
- 5/7/24 - Form 4
- 5/1/24 - Form 4
- 4/30/24 - Form 144
- PCG's page on the SEC website