PG&E's future is in doubt after Newsom rejects bankruptcy plan [Los Angeles Times (CA)]
Pacific Gas & Electric Co. (PCG)
Last pacific gas & electric co. earnings: 5/1 08:21 am
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Source: Los Angeles Times
Gov. Gavin Newsom on Friday rejected Pacific Gas & Electric’s proposal to pull itself out of bankruptcy, saying its reorganization plan falls “woefully short” of safety requirements set under state law and demanding the company make major changes if it wants to access billions of dollars in a fund to pay wildfire claims. The move complicates PG&E’s ability to remain in control of the company in a bankruptcy process that has seen financial interests vying to take over and local politicians preparing models for an entirely new utility. PG&E triggered the bankruptcy in January citing an estimated $30 billion in financial liabilities from California wildfires sparked by its equipment. “In my judgment, the amended plan and the restructuring transactions do not result in a reorganized company positioned to provide safe, reliable, and affordable service to its customers, as required by AB 1054,” Newsom wrote in a letter to PG&E. “The state remains focused on meeting the needs of Californians
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News
- California Rejects PG&E Bid for Minority Sale Amid KKR Talks [Yahoo! Finance]Yahoo! Finance
- California Regulators Reject PG&E Plan to Sell Generation Assets [Yahoo! Finance]Yahoo! Finance
- California Rejects PG&E Bid for Minority Sale Amid KKR Talks [Financial Post (Toronto, Ontario, Canada)]Financial Post
- California Adopts One of Nation's Highest Fixed-Utility Fees [Financial Post (Toronto, Ontario, Canada)]Financial Post
- California Adopts One of Nation's Highest Fixed-Utility Fees [Yahoo! Finance]Yahoo! Finance
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