PG&E Corp. is finding it very costly to buy fire insurance after wildfires triggered by its power lines sent the company into bankruptcy and left it paying $25.5 billion for claims. It’s hoping customers will foot the bill. The San …
PG&E Corp. told a federal judge it opposes his proposals to intervene in the company’s wildfire prevention efforts after it admitted to not fully complying with the terms of its criminal probation. The bankrupt northern California utility’s pushback is a …
PG&E Corp. shares jumped after the company outlined plans to overhaul its board of directors, bring in safety experts and create regional operating units in a broad reorganization proposal aimed at winning state approval for its bankruptcy exit. PG&E detailed …
The explosion ruptured the dusk settling over the desert in Surprise, Arizona. For hours, smoke had poured from a metal shed packed with lithium-ion batteries at a small electric substation. The batteries were tied to the electric grid, and somehow …
Time is running out for PG&E Corp. to end the biggest-ever U.S. utility bankruptcy, so the company must set reorganization deadlines and explain a potential conflict in its multi-billion dollar payout proposal, a federal judge said Wednesday. U.S. Bankruptcy Judge …
PG&E Corp. is nearing a deal with a group of bondholders led by Pacific Investment Management Co. and Elliott Management Corp. that would entitle them to a mix of equity and new debt if they scrap their rival restructuring plan, …
SAN FRANCISCO — A financial tug-of-war is emerging over the $13.5 billion that the nation’s largest utility has agreed to pay to victims of recent California wildfires, as government agencies jockey for more than half the money to cover the …
A clause that would allow California to take over bankrupt utility giant PG&E Corp. under certain circumstances has emerged as a big sticking point in negotiations between the company and Governor Gavin Newsom. Newsom wants the power company to include …
Bankrupt utility giant PG&E Corp. has removed a requirement that California Governor Gavin Newsom sign off on its settlement with wildfire victims, trying to buy more time for its restructuring plan. PG&E reached an agreement Monday with representatives of the …
PG&E Corp. surged to a two-month high after reaching a $13.5 billion settlement with the victims of wildfires ignited by its power lines — a major step toward resolving the biggest utility bankruptcy in U.S. history. The agreement, announced late …