Latest PG&E Corp News

FILE - This Dec. 3, 2018, file photo shows homes leveled by the Camp Fire line at the Ridgewood Mobile Home Park retirement community in Paradise, Calif. Lawyers who negotiated a deal between wildfire victims and Pacific Gas & Electric say questions about the beleaguered company's ability to pay $13.5 billion to the victims could unravel the deal, upending the company's efforts to get out of bankruptcy by June 30.(AP Photo/Noah Berger, File)

Market tumult threatens PG&E deal with wildfire victims

Apr. 6, 2020 4:33 PM EDT

BERKELEY, Calif. (AP) — Lawyers who negotiated a crucial $13.5 billion deal for the victims of deadly wildfires caused by Pacific Gas & Electric equipment are expressing serious doubts about whether the nation's largest utility will be able to pay the full amount as the economy sinks toward a...

Another member of fire panel resigns, criticizes PG&E plan

Apr. 3, 2020 8:13 PM EDT

BERKELEY, Calif. (AP) — The former chief financial officer for a Northern California city destroyed in a 2018 wildfire caused by Pacific Gas & Electric equipment is trying to upend the utility's plan for getting out of bankruptcy because she believes the company is shortchanging the people devastated...

FILE - In this Dec. 3, 2018, file photo, a vehicle rests in front of a home leveled by the Camp Fire in Paradise, Calif. California power regulators are weighing a recommendation to back off plans to fine Pacific Gas and Electric an additional $462 million for igniting a series of Northern California 2018 deadly wildfires rather than risk that the harsher punishment will scuttle the utility's plan to emerge from bankruptcy protection, the state's Public Utilities Commission said in a document made public Monday, March 30, 2020. (AP Photo/Noah Berger, File)

Regulators mull reversing $462M increase in PG&E fire fines

Mar. 31, 2020 7:43 PM EDT

BERKELEY, Calif. (AP) — California power regulators are weighing a recommendation to back off plans to fine Pacific Gas and Electric an additional $462 million over a series of deadly Northern California wildfires rather than risk that the harsher punishment might scuttle the utility's plan to get out of...

In this photo taken Feb. 18, 2020, people walk behind a Pacific Gas and Electric truck parked in San Francisco. The stock market turmoil triggered by the coronavirus pandemic is raising worries that Pacific Gas & Electric's $13.5 billion settlement with victims of catastrophic wildfires may be worth far less by the time the beleaguered company emerges from bankruptcy. A lawyer who represents more than 81,000 wildfire victims flagged the escalating concerns during a Wednesday, March 25, 2020, court hearing held by conference call. (AP Photo/Jeff Chiu)

PG&E to use wildfire victims fund to pay for past crimes

Mar. 27, 2020 6:14 PM EDT

BERKELEY, Calif. (AP) — Pacific Gas & Electric is warning its elaborate plan for getting out of bankruptcy might collapse if the utility can’t pay for its crimes in a deadly Northern California wildfire by taking money away from a fund set up to compensate thousands of victims for their losses....

In this photo taken Feb. 18, 2020, people walk behind a Pacific Gas and Electric truck parked in San Francisco. The stock market turmoil triggered by the coronavirus pandemic is raising worries that Pacific Gas & Electric's $13.5 billion settlement with victims of catastrophic wildfires may be worth far less by the time the beleaguered company emerges from bankruptcy. A lawyer who represents more than 81,000 wildfire victims flagged the escalating concerns during a Wednesday, March 25, 2020, court hearing held by conference call. (AP Photo/Jeff Chiu)

PG&E's falling stock price worries fire victims eyeing deal

Mar. 25, 2020 5:43 PM EDT

BERKELEY, Calif. (AP) — The stock market turmoil triggered by the coronavirus pandemic is raising worries that Pacific Gas & Electric's $13.5 billion settlement with victims of catastrophic wildfires may be worth far less by the time the beleaguered company emerges from bankruptcy. A lawyer who...

FILE - In this Wednesday, Nov. 14, 2018, file photo, sheriff's deputies recover the body of a Camp Fire victim in Paradise, Calif. Pacific Gas & Electric said Monday, March 23, 2020, it will plead guilty to 84 counts of involuntary manslaughter in connection with the 2018 fire in Northern California that killed 84 people and decimated three towns. (AP Photo/Noah Berger, File)

PG&E to plead guilty to lethal crimes in 2018 wildfires

Mar. 23, 2020 7:42 PM EDT

SAN FRANCISCO (AP) — Pacific Gas & Electric will plead guilty to 84 counts of involuntary manslaughter for a swath of death and destruction left behind after its fraying electrical grid ignited a 2018 wildfire that destroyed three Northern California towns and drove the nation's largest utility into...

H&R Block, Macy's fall; Avis Budget, PG&E rise

Mar. 23, 2020 4:18 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Monday: Gilead Sciences Inc., down 65 cents to $72.61. The biotechnology company suspended emergency access to its experimental coronavirus drug because of overwhelming demand. H&R Block Inc., down 70 cents to $12.38. The Internal...

FILE - In this Aug. 15, 2019, file photo, a Pacific Gas & Electric worker walks in front of a truck in San Francisco. PG&E and California Gov. Gavin Newsom have reached a deal for the nation's largest utility to emerge from bankruptcy triggered by massive liabilities from wildfires. PG&E agreed to overhaul its board and operations and to put the company up for sale if it doesn't get out of bankruptcy by June 30. (AP Photo/Jeff Chiu, File)

PG&E reaches bankruptcy deal with California governor

Mar. 20, 2020 8:29 PM EDT

SACRAMENTO, Calif. (AP) — Pacific Gas & Electric and California Gov. Gavin Newsom announced a deal Friday that removes one of the last hurdles for the nation's largest utility to emerge from a bankruptcy triggered by its massive liabilities from wildfires. PG&E agreed to overhaul its board and...

PG&E Corp. and California governor reach deal for nation's largest utility to emerge from bankruptcy

Mar. 20, 2020 5:59 PM EDT
SAN FRANCISCO (AP) — PG&E Corp. and California governor reach deal for nation's largest utility to emerge from bankruptcy.
FILE - In this Jan. 14, 2019, file photo, Pacific Gas & Electric vehicles are parked at the PG&E Oakland Service Center in Oakland, Calif. Pacific Gas & Electric on Monday, March 16, 2020, won court approval to raise $23 billion to help pay its bills over destructive California wildfires after Gov. Gavin Newsom dropped his opposition to a financing package designed to help the nation's largest utility get out of bankruptcy. (AP Photo/Ben Margot, File)

Court approves PG&E's $23B bankruptcy financing package

Mar. 16, 2020 7:39 PM EDT

BERKELEY, Calif. (AP) — Pacific Gas & Electric on Monday won court approval to raise $23 billion to help pay its bills over destructive California wildfires after Gov. Gavin Newsom dropped his opposition to a financing package designed to help the nation's largest utility get out of bankruptcy. The...