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 …
PG&E Corp. estimates it would cost as much as $150 billion this year alone to comply with a federal judge’s proposal to prevent wildfires. California’s largest investor-owned utility said U.S. District Judge William Alsup’s plan for it to trim branches …
Seth Klarman’s Baupost Group has been the poster child of the hedge fund industry’s ill-timed stock-market bets on the troubled utility PG&E Corp., which announced plans for bankruptcy. It turns out, though, that Baupost’s stock purchases, valued at $873 million …
