PG&E Reaches $13.5 Billion Settlement With Wildfire Victims [Yahoo! Finance News]
Pacific Gas & Electric Co. (PCG)
Last pacific gas & electric co. earnings: 5/1 08:21 am
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Source: Yahoo! Finance News
Bloomberg) -- PG&E Corp. reached a $13.5 billion settlement with victims of wildfires ignited by its power lines, a major step toward resolving the biggest utility bankruptcy in U.S. history. The agreement will cover claims stemming from some of the worst fires to hit Northern California, including the 2017 wine country fires and the 2018 Camp Fire, the company said in a emailed statement. The 2015 Ghost Ship fire and the 2017 Tubbs fire are also covered, although the utility doesn’t admit fault for either blaze, PG&E said. The payout to victims will be financed through cash, stock in reorganized PG&E and monetization of the company’s net operating losses, according to attorneys representing wildfire victims. The deal will require approval by California Governor Gavin om and the bankruptcy court. The deal is a victory for PG&E, which has spent months trying to negotiate a viable restructuring plan to emerge from bankruptcy by the middle of next year. U.S. Bankruptcy Judge Dennis Monta
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PCG
News
- PG&E CEO Says Soaring Power Bills Are Poised to Start Dropping [BNN Bloomberg (Canada)]BNN Bloomberg
- Warren Buffett 'got it wrong' on California fire risk, PG&E CEO says [Seeking Alpha]Seeking Alpha
- ‘Buffett Got it Wrong' on California Fire Risk, PG&E CEO Says [BNN Bloomberg (Canada)]BNN Bloomberg
- UPDATE 1-PG&E beats quarterly profit view, eyes electricity demand growth [Yahoo! Finance]Yahoo! Finance
- PG&E beats quarterly profit view, raises annual forecast [Reuters]Reuters
PCG
Earnings
- 4/25/24 - Beat
PCG
Sec Filings
- 4/25/24 - Form 8-K
- 4/25/24 - Form 10-Q
- 4/4/24 - Form ARS
- PCG's page on the SEC website