Latest PG&E Corp News

California utility scrambles to renegotiate wildfire deal

Dec. 14, 2019 11:26 PM EST

SAN FRANCISCO (AP) — California Gov. Gavin Newsom's opposition to Pacific Gas & Electric's restructuring plan just a week after it struck a $13.5 billion settlement with fire victims is forcing the nation's largest utility to go back to the negotiating table and come up with a solution fairly quickly....

California governor rejects $13.5 billion PG&E settlement

Dec. 14, 2019 12:22 AM EST

SAN FRANCISCO (AP) — California Gov. Gavin Newsom has rejected a $13.5 billion settlement that Pacific Gas & Electric struck just last week with thousands of people who lost homes, businesses and family members in a series of devastating fires that drove the nation's largest utility into bankruptcy....

PG&E's $13.5B deal with fire victims removes huge obstacles

Dec. 9, 2019 8:30 PM EST

Associated Press (AP) — Pacific Gas and Electric will be able to avoid two legal obstacles that could have tripped up its efforts to bounce back from bankruptcy if California Gov. Gavin Newsom and a federal judge approve a $13.5 billion settlement with victims of catastrophic fires blamed on the utility's...

PG&E's stock surges 16% on tentative wildfire settlement

Dec. 9, 2019 5:20 PM EST

SAN FRANCISCO (AP) — PG&E's stock surged Monday after the utility reached a tentative $13.5 billion settlement resolving all major claims related to the Northern California wildfires of 2017 and 2018. The fires were blamed on Pacific Gas and Electric's outdated equipment and negligence. The utility...

PG&E says it has reached $13.5 billion wildfire settlement

Dec. 7, 2019 1:16 AM EST

LOS ANGELES (AP) — Pacific Gas and Electric announced Friday it has reached a tentative $13.5 billion settlement resolving all major claims related to the deadly, devastating Northern California wildfires of 2017-2018 that were blamed on its outdated equipment and negligence. The utility says the deal,...

PG&E urges judge to approve key settlement, faces resistance

Dec. 4, 2019 7:43 PM EST

SAN FRANCISCO (AP) — Pacific Gas & Electric on Wednesday urged a federal bankruptcy judge to approve a key insurance settlement as it struggles to regain its financial footing and cover at least $20 billion in losses stemming from catastrophic wildfires in California tied to its equipment. The nation's...

Tech Data, Diplomat Pharmacy rise; Helmerich & Payne falls

Nov. 29, 2019 2:17 PM EST

NEW YORK (AP) — Stocks that moved substantially or traded heavily on Friday: Tech Data Corp., up $15.89 to $144.89 Shares surged after Apollo Global Management raised its offer to buy the technology company to $145 per share in cash from $130. Helmerich & Payne Inc., down 93 cents to $39.53 The...

Judge keeps California law on utilities paying fire damages

Nov. 27, 2019 8:13 PM EST

SAN FRANCISCO (AP) — A federal bankruptcy court judge on Wednesday rejected Pacific Gas & Electric’s latest attempt to change a California law requiring utilities to pay for the devastation from wildfires ignited by their electrical equipment. The decision issued by U.S. Bankruptcy Judge Dennis...

Survivors fear smaller payouts from PG&E with each fire

Nov. 23, 2019 12:07 PM EST

Lori Kennedy thought she was going to live a comfortable retirement in a modest home in wooded Magalia, California. But she woke up a year ago to a phone call and hurried evacuation orders, and in a matter of hours nearly every trace of her life was incinerated: the Christmas ornaments her children made when they...

PG&E restores power to thousands in California

Nov. 21, 2019 10:16 PM EST

SAN FRANCISCO (AP) — Pacific Gas & Electric restored power Thursday to 120,000 people it intentionally blacked out to ease the risk of catastrophic wildfires. The nation’s largest utility cut power Wednesday in parts of 11 Northern and central California counties because of concerns that dry,...