CPUC Approves PG&E’s Chapter 11 Plan of Reorganization
Pacific Gas & Electric Co. (PCG)
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Source: Business Wire
Commission Approval is Another Major Step Toward Plan of Reorganization Confirmation, Chapter 11 Emergence, and Paying Wildfire Victims Fairly and Quickly SAN FRANCISCO--(BUSINESS WIRE)--Today, the California Public Utilities Commission (CPUC) approved the Chapter 11 Plan of Reorganization (the Plan) of PG&E Corporation and Pacific Gas and Electric Company (together, PG&E). The CPUC approval in its Plan of Reorganization Order Instituting Investigation proceeding completes another major milestone needed for PG&E to be eligible to participate in the State’s Wildfire Fund, and keeps the company on track for Bankruptcy Court confirmation of the Plan prior to June 30, 2020.The Bankruptcy Court confirmation hearing began on May 27, 2020.By adopting a final decision today, the CPUC approved a number of measures to improve PG&E’s governance process, operational structure, and safety performance. Many of the measures outlined in the CPUC’s final decision already are underway. The decision
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