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The Buzz

2 Apr

The surge in residential energy use from millions of people ordered to stay home motivates energy regulators to lighten the financial burden of higher utility bills. They plan to advance the climate credit so they aren’t quite so high. The same day, California’s head energy regulator insists on resolving PG&E’s bankruptcy by the end of […]

Bankruptcy May be the Excuse for Expedited Rate Recovery of PG&E’s 2019 Fire Costs

2 Apr

The pandemic and the fast approaching wildfire season increases the urgency of getting Pacific Gas & Electric out of bankruptcy by June 30, California Public Utilities Commission Marybel Batjer said. “We want to clear the regulatory landscape for PG&E’s exit from Chapter 11” to allow it to access the legislatively created $20 billion wildfire fund. […]

Montali Rejects Suit Seeking Damages for Utility Shutoffs

1 Apr

A victim of the five power shutoffs during wind storms late last year unsuccessfully sought to bring a class action suit against Pacific Gas & Electric for associated damage from the loss of electricity. U.S. Bankruptcy Judge Dennis Montali dismissed the $2.5 billion claim on grounds that the California Public Utilities Commission sets shutoff guidelines […]

PG&E Won’t Use Victim Fund to Pay Criminal Penalty

31 Mar

Pacific Gas & Electric did an about face in response to outrage from the fire victims committee that it planned to dip into the $13.5 billion wildfire victim fund to pay its $4 million penalty for 85 criminal charges arising from igniting the 2018 Camp Fire. The company pled guilty March 17 to felony charges, […]

The Buzz

26 Mar

Incessant telephonic disruptions don’t stop state regulators from approving 25,000 MW of new clean energy projects to cut the sector’s emission to 46 megatons of carbon emissions by 2030.  Also during their challenging public telephone business meeting, the California Public Utilities Commission unanimously okays $200 million in building decarbonization pilots. It also extends a multi-million […]

PG&E Financing Plan Struggles in Market Storm

24 Mar

The current market volatility is creating difficulties for the deals essential to Pacific Gas & Electric’s emergence from bankruptcy. “It’s very, very challenging,” said Gabe Grosberg, Standard &Poor’s senior director, of the pandemic’s impact on the market and in turn PG&E’s reorganization efforts. “The economy will continue to be bad at least until the third […]

PG&E Pleads Guilty to Criminal Counts in Camp Fire, Fights $2.1B Penalty

23 Mar

Pacific Gas & Electric pled guilty to 84 counts of involuntary manslaughter and one of illegally starting the devastating 2018 Camp Fire that destroyed the town of Paradise, according to its March 23 Securities & Exchange Commission filing. The company agreed to pay $3.5 million in fines, as well as $500 million for the Butte […]

Possible Sale of PG&E under Deal with Newsom

20 Mar

Under an agreement reached with Gov. Gavin Newsom announced late Friday, Pacific Gas & Electric agrees the state or another entity could buy the company if it fails to exit bankruptcy by June 30. Under the deal filed March 20 in federal Bankruptcy Court, PG&E commits to selling the utility “in the unlikely circumstance” its […]

The Buzz

19 Mar

The pandemic has slowed down solar projects but there is an unprecedented increase in new installed capacity in 2019. This year and future ones may be a different story but solar proponents expect solar capacity to keep rising in and outside California over the long haul. Large intermittent renewable generation paired with storage provides more […]

Court Signs Off on Part of PG&E Reorganization Plan

17 Mar

The U.S Bankruptcy Court approved nearly $20 billion in equity and debt financing as part of Pacific Gas & Electric’s plan to exit Chapter 11 proceedings by June 30. The approval came during a March 16 telephonic hearing. The power company will be allowed to enter into $10.83 billion in debt financing, and issue $9 […]

State and Federal Meeting Updates during Covid-19 Pandemic

16 Mar

Updated Friday. Changes in italics. The following are the latest changes to previously scheduled meetings, in accordance with Gov. Gavin Newsom’s executive order limiting the number of people at gatherings, and local agency dictates. The California Public Utilities Commission cancelled all its public hearings on increasing electric rates pursuant to Phase One of Southern California […]

The Buzz

12 Mar

The rising threat of the new coronavirus gets state and federal agencies in gear.  A few days earlier, regulators and other energy entities don’t agree on how to respond. The state grid operator is the first to take major precautions, discontinuing its in-person meetings to thwart the possible spread of COVID-19 pathogens. With no fanfare, […]

CPUC Reaffirms its Authority over Diablo Costs, is Silent on Early Closure

12 Mar

The California Public Utilities Commission approved without comment calls for scrutinizing the high costs of keeping the 2,200 MW Diablo Nuclear Power Plant online. The decision by Administrative Law Judge Peter Allen, backed unanimously March 12, does not address the implicit call by the Alliance for Nuclear Responsibility’s petition for a plant closure before 2025 […]

PG&E Suffers Big Loss in 2019

24 Feb

PG&E Corp. suffered a larger loss in net income last year than in the previous year. However, its 4th quarter loss for 2019 was about half the size of its 2018 fourth quarter hit. In its latest earnings report, the parent company reported a loss of $7.7 billion, at minus $14.50 a share, for 2019. […]

The Buzz

20 Feb

The West Coast’s first LNG export project looks like its headed for federal approval. This week, however, the Federal Energy Regulatory Commission votes 2-1 to tentatively disapprove the Coos Bay project because of Oregon’s recent permit rejection. A majority of the federal energy regulators also reject the New York grid operator’s capacity market revisions, undermining […]

CPUC Pitches PG&E Reorganization Framework

19 Feb

The California Public Utilities Commission Feb. 18 opened an investigation into the impacts of Pacific Gas & Electric’s exit from federal bankruptcy court. It issued a broad appeal for public input on the utility plan to emerge from Chapter 11 protections. “It is essential we hear from all parties, including ratepayers, consumer advocates, local governments, […]

The Buzz

7 Feb

State energy regulators pay lip service to California’s mandate for the energy sector to be 100 percent clean and then approve the replacement of a 50-mile natural gas pipeline in San Diego. But, the Sempra utilities’ $677 million cost estimate for the project is to be examined. The House Energy & Commerce Committee takes aim […]

PG&E-Bondholder Deal Gets Judge’s Vote

4 Feb

The federal judge in the PG&E bankruptcy proceeding approved the settlement proposed by the utility, after listening to arguments from the sole opponent, a wildfire victim. Before announcing his decision Feb. 4, Judge Dennis Montali asked William Abrams the ramifications to fire victims, creditors and others if he were to reject PG&E’s nearly $60 billion […]

New Bill Allows Public Seizure of PG&E

4 Feb

While the federal court prepares to approve Pacific Gas & Electric’s plan for exiting bankruptcy, a new public entity would have the power to take over the company under legislation introduced Feb. 3. SB 917 by Sen. Scott Wiener (D-San Francisco) would establish the Northern California Energy Utility District, empowering it to take by eminent […]

PG&E’s New Bankruptcy Plan Meets Newsom Part Way

3 Feb

Pacific Gas & Electric’s latest plan to settle with creditors strikes a compromise with Gov. Gavin Newsom. The multi-billion-dollar revised reorganization plan released late on Friday, Jan. 31, includes replacing some of the members of the corporate and utility boards–most of whom have only been in place for a year–with new members who are California […]