Creation of a catastrophic wildfire risk pool is emerging as the most likely option as California lawmakers seek to protect the solvency of investor-owned utilities from record payouts for fire damages. PG&E filed for a bankruptcy reorganization this year, saying …
The warning couldn’t have been clearer. As PG&E Corp. plunged into bankruptcy last month, S&P Global Ratings slashed credit grades almost to junk status for California’s two other big electric utilities, owned by Sempra Energy and Edison International, and said …
PG&E Corp.’s chances of emerging from bankruptcy proceedings hinge in part on an arcane California legal rule that threatens to keep the utility owner perpetually on the hook for liabilities from catastrophic wildfires even beyond the more than $30 billion …
PG&E Corp., suspected of starting California’s deadliest wildfire, may soon get help from state lawmakers – just not the help it most wants. An assemblyman plans to introduce a bill in January that would give the state’s largest utility owner …
California utilities are facing the very real possibility that billion-dollar blazes could become an annual occurrence, and they don’t know how to pay for them. Shares of the state’s two largest utilities plummeted Monday after both PG&E Corp. and Edison …
PG&E Corp.’s equipment was responsible for causing four of the smaller wildfires that tore through Northern California last year, according to the first report issued by state investigators. The fires in Butte and Nevada counties, located in the Sierra Nevada …
