UPDATE 1-California regulator approves PG&E's Chapter 11 reorganization plan [Reuters]
Pacific Gas & Electric Co. (PCG)
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Source: Reuters
UPDATE 1-California regulator approves PG&E's Chapter 11 reorganization plan (Adds details from statement, remarks from judge, and background) May 28 (Reuters) - PG&E Corp said on Thursday its Chapter 11 reorganization plan has been confirmed by a California power regulator, bringing the power provider one step closer to emerge from bankruptcy and participate in a state-backed wildfire fund. The decision by the California Public Utilities Commission (CPUC) also approved the company’s request to issue new debt and securities to finance its exit from bankruptcy, PG&E said in a statement. The San Francisco-based utility had filed for Chapter 11 bankruptcy protection in January last year, citing potential liabilities exceeding $30 billion from major wildfires sparked by its equipment in 2017 and 2018. The company needs to exit bankruptcy by June 30 to participate in a state-backed wildfire fund that would help reduce the threat to utilities from wildfires. The power provider has had a tum
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News
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- PG&E, Edison, California Apply for $2 Billion US Grid Grant [Financial Post (Toronto, Ontario, Canada)]Financial Post
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- What Young Employees In The Construction Trades Need To Know Now [Forbes]Forbes
PCG
Earnings
- 2/22/24 - Beat
PCG
Sec Filings
- 4/4/24 - Form ARS
- 4/4/24 - Form DEFA14A
- 4/4/24 - Form DEF
- PCG's page on the SEC website