California
The California Legislature has passed four bills related to electricity, including one that could help shepherd the sale of PG&E’s San Francisco assets.
Sadness over the recent death of Robert Kahn suffused this year’s NIPPC annual meeting, where speakers remembered and praised the energy veteran.
PG&E [NYSE:PCG] announced it had reached an $11B settlement agreement with nearly all the insurers trying to recoup their payments to victims of wildfires.
PG&E Corp. [NYSCE:PCG] filed a reorganization plan in U.S. Bankruptcy Court that includes $16.9 billion to pay for wildfire claims.
PG&E Corp. said it was postponing a controversial effort to secure up to $20 billion in bonds from the state to pay for wildfires sparked by its equipment.
California stakeholders have proposed replacing the state’s resource adequacy framework with a “central buyer” responsible for procuring resources.
PG&E is hoping the California legislature will approve a bill providing up to $20 billion in bonds to help the company pay its debts to wildfire victims.
The judge overseeing PG&E’s bankruptcy ruled against bondholders and insurers that wanted to offer their own reorganization plans for the embattled utility.
Lawyers representing PG&E and California wildfire victims argued over how to estimate the potential liability of the bankrupt utility.
The judge overseeing PG&E’s bankruptcy questioned the utility’s attorney over an executive compensation package that includes $11 million in bonuses.
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