CA Current

Pacific Gas & Electric reached a tentative $11 billion settlement with dozens of insurance companies Sept. 13. The agreement filed in the U.S. Bankruptcy Court of Northern California is with the Ad Hoc Subrogation Group, which represents insurance firms and their claims for damage caused by wildfires sparked by PG&E equipment. It covers nearly half […]

The California Public Utilities Commission votes to increase PG&E’s gas transmission and storage revenue this year to $1.3 billion, with even bigger raises the next couple of years. State energy regulators direct $100 million in unspent clean energy incentives to low-income ratepayers and critical services providers for energy storage installations in areas with high wildfire […]

In order to exit bankruptcy court, Pacific Gas & Electric Sept. 9 proposed a $17.9 billion reorganization plan, which would limit wildfire claim payouts. The reorganization plan includes up to $8.4 billion for wildfire victims. Another $8.5 billion is included for insurance company claims. There’s also $1 billion for claims from cities and other public […]

Prior to Pacific Gas & Electric filing its $18 billion reorganization proposal to exit bankruptcy, the San Francisco Public Utilities Commission offered the utility $2.5 billion to take over its electric power system in the city. The offer includes folding in local PG&E utility employees who decide to work for any expanded San Francisco power […]

A recently amended bill that would increase the financial burden on Pacific Gas & Electric ratepayers appears to have fizzled. AB 235 by Assemblymember Chad Mayes (R-Riverside), amended on Aug. 20, was said to allow PG&E to issue up to $20 billion in bonds to cover 2017-18 wildfire claims against the utility. The bonds would […]

A legislative resolution that would classify nuclear energy as a renewable resource under California’s Renewable Portfolio Standard was introduced Aug. 28. There is only one nuclear plant in the state that would benefit from ACA 18 by Assemblymember Jordan Cunningham (R-San Luis Obispo): Diablo Canyon. “Without Diablo’s power production, there is no viable path to […]

Pacific Gas & Electric’s stock remained in the dumps Aug. 20 after a federal bankruptcy court Aug. 16 lifted a freeze on some $18 billion in claims stemming from the 2017 Tubbs Fire in Sonoma County. While CalFire found the devastating fire, which swept through Santa Rosa, was caused by private electrical equipment rather than […]

The California Public Utilities Commission says goodbye to President Mike Picker. The five commissioners also approve new decade-long energy efficiency targets and SDG&E’s $100 million heavy-duty vehicle electrification program. The California Independent System Operator gets a CEC pat on the back for being the new Reliability Coordinator. The Energy Commission also adopts impressive new rules […]

Pacific Gas & Electric was slammed for deficient training of contracted tree trimmers and inadequate vegetation management, including in high fire risk zones, by the federal court monitoring PG&E’s safety practices. The utility was put on probation by the court because of violations that led to the 2010 gas pipe blast in San Bruno. The […]

Pacific Gas & Electric appointed a new utility chief executive officer and president. Andrew Vesey was selected to head the bankrupt utility, PG&E announced Aug. 13. Vesey was the managing director and chief executive officer of AGL Energy in Australia from 2015 to 2018. The prior 11 years, he served as AES Corp.’s chief executive […]

Unlike California’s two other private utilities, massive wildfire claims caused Pacific Gas & Electric Corp. to lose a whopping $2.6 billion, according to its second quarter 2019 earnings report released Aug. 9. That loss, equating to a minus $4.95 per share, compares to a $984 million loss, or $1.98 a share, in the second quarter […]

A Senate panel backed a legislative resolution July 10 that calls on the California Public Utilities Commission to work to protect public and state interests in Pacific Gas & Electric’s Chapter 11 bankruptcy proceeding. The move came just days after the utility began notifying creditors that the deadline for filing claims against it was approaching. […]

New amendments to AB 1054 this week would create a multi-billion dollar wildfire liability fund backed principally by ratepayer money, as pushed by the governor. The measure by Assembly Utilities & Energy Committee Chair Chris Holden (D-Pasadena) proposes a $10.5 billion revolving liquidity fund to cover private utility liabilities stemming from fires their equipment may […]

A group of Pacific Gas & Electric bondholders and unsecured creditors are pushing a $30 billion financial health plan for the bankrupt utility that would be backed principally by new equity. The plan filed by the Ad Hoc Committee of Unsecured Noteholders June 25 asked U.S. Bankruptcy Court Judge Dennis Montali to end ahead of […]

Pacific Gas & Electric will pay a total of $1 billion to 18 local agencies to resolve claims stemming from wildfires in 2015, 2017, and 2018 under a mediated settlement reached June 18. The agreement, which does not affect claims against PG&E filed by residents and businesses, must be approved by a federal bankruptcy court. […]

A House Energy panel zeros in on federal legislation and tactics to resolve the troubling issue of long-term storage of radioactive waste from nuclear power plants. Lawmakers also grapple with how to consolidate onsite spent fuel in 121 communities, including in Southern California and Sacramento. The day before, another House Energy & Commerce subcommittee tells […]

A federal bankruptcy court judge ruled in Pacific Gas & Electric’s favor on who controls the more than $40 billion in PG&E’s renewable and gas power purchase agreements. Judge Dennis Montali held that his court, not federal energy regulators, has say over the multi-million dollar deals signed by PG&E. The utility is in the midst […]

This week is all about measures to reduce the impacts of utility-sparked wildfires in California. In the midst of all the smoke, CPUC president Mike Picker says he’ll soon retire. Earlier, he and other state energy regulators approve the investor-owned utilities’ 2019 plans to stem wildfire risks from their equipment. But, the CPUC notes, this is […]

The California Public Utilities Commission May 30 approved investor-owned utilities’ 2019 plans to stem wildfire risk under SB 901, as expected. “Approval of these plans is just a first step,” said Commissioner Cliff Rechtschaffen at the CPUC’s meeting this week. “We are learning as we go along,” added Commission President Mike Picker. The plans, said […]

The U.S. Bankruptcy Court in San Francisco May 22 approved a $105 million Pacific Gas & Electric assistance fund to support those displaced by the Northern California wildfires in 2017 and the 2018 Camp Fire. The fund is being authorized by the court after CalFire found earlier this month that the utility caused the Camp […]