Latest PG&E Corp News

Heating up: Hotter Earth drives dollars to sustainable funds

Jul. 14, 2019 7:01 AM EDT

NEW YORK (AP) — This year is on pace to be one of the hottest on record, again, and the trend may only accelerate as President Donald Trump loosens policies meant to combat climate change. That has some investors feeling anger, but others are seeing dollar signs. They're envisioning profits made by...

California backs effort to boost utilities during wildfires

Jul. 11, 2019 6:50 PM EDT

SACRAMENTO, Calif. (AP) — California lawmakers approved a multibillion-dollar plan Thursday to shore up the state's biggest electric utilities in the face of catastrophic wildfires and claims for damage from past blazes caused by their equipment. It requires major utilities to spend at least $5 billion...

Report: PG&E ignored repairs on aging power lines

Jul. 10, 2019 11:21 PM EDT

SAN FRANCISCO (AP) — Pacific Gas & Electric, which is blamed for some of California's deadliest recent fires, knew for years that dozens of its aging power lines posed a wildfire threat but avoided replacing or repairing them, it was reported Wednesday. The Wall Street Journal, using company documents...

PG&E's lenders offer billions, new name to rebrand utility

Jun. 25, 2019 5:46 PM EDT

SACRAMENTO, Calif. (AP) — Pacific Gas & Electric's key lenders on Tuesday offered a $30 billion plan to pull the utility out of bankruptcy and give the tarnished company a new name. The proposal filed in U.S. Bankruptcy Court would set aside up to $18 billion of that $30 billion to pay claims on the...

California governor proposes safety steps for utilities

Jun. 21, 2019 7:20 PM EDT

SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom is willing to throw a financial lifeline to the state's major utilities dealing with the results of disastrous wildfires -- but only if they agree to concessions including tying executive compensation to safety performance. A proposal unveiled Friday...

PG&E to pay $1 billion to governments for wildfire damage

Jun. 18, 2019 8:43 PM EDT

SACRAMENTO, Calif. (AP) — A California utility agreed Tuesday to pay $1 billion to 14 local governments to cover damages from a series of deadly wildfires caused by its downed power lines. The settlement is a sliver of the more than $30 billion in potential damages Pacific Gas & Electric is facing in...

Judge approves $105M fund for California wildfire survivors

May. 22, 2019 7:53 PM EDT

SAN FRANCISCO (AP) — Pacific Gas & Electric Corp. received approval Wednesday to establish a $105 million fund to help survivors of recent California wildfires started by the utility's equipment. A federal judge overseeing PG&E's bankruptcy case approved the utility's wildfire assistance program to...