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JUICE: Doubts about PG&E Promise to Exit Bankruptcy Sans Rate Hike

26 May

Pacific Gas & Electric’s $58 billion borrowing plan to exit bankruptcy is required to be rate neutral. Ratepayers are not supposed to pay an extra dime for the Chapter 11 proceedings under the law creating a $21 billion wildfire fund, AB 1054. Protecting ratepayers from paying for this second bankruptcy, which roughly doubles PG&E’s debt, […]

The Buzz

21 May

The California Public Utilities Commission vote on Pacific Gas & Electric’s massive reorganization plan gets waylaid by an improper communication. The CPUC’s proposed decision on the plan, now set for a May 28 vote, approves most but not all of the pending financing to get PG&E out from under massive wildfire claims. It does not […]

Rule Violation Forces CPUC to Delay Key Vote on PG&E Bankruptcy

21 May

The California Public Utilities Commission postponed the vote on Pacific Gas & Electric’s $58 billion financial plan to exit bankruptcy, citing an improper ex parte communication conducted during the quiet period. CPUC President Marybel Batjer announced the postponement May 21. Will Abrams, who has taken a lead role among fire victims, notified CPUC stakeholders of […]

PG&E Wildfire Victims Back $13.5B Deal, CPUC Set to Approve Reorg Plan

19 May

Updated May 21 Most of the tens of thousands of victims of fires in 2015, 2017 and 2018 that were sparked by Pacific Gas & Electric agreed to the company’s pending $13.5 billion cash and stock settlement. PG&E said May 18 that there has been “overwhelming acceptance of the plan” by the surviving victims—those who […]

Juice: Brass Knuckles

12 May

Metal fighting devices placed on a person’s knuckles “concentrate a punch’s force by directing it toward a harder and smaller contact area,” increasing the harm to the intended target, according to Wikipedia. The Trump Administration has popularized the use of the functional equivalent of these thuggish fighting tools. They also appear back in fashion at […]

The Buzz

7 May

The California Public Utilities Commission staff releases a draft resolution that finds big holes in the private utilities 2020 plans for reducing wildfire threats. But it recommends they be approved. Pacific Gas & Electric shareholders are on the hook for nearly $2 billion for numerous fires the company sparked in 2017 and 2018. The presiding […]

PG&E Hit with $1.94B Penalty for Wildfires

7 May

State regulators voted unanimously May 7 to have Pacific Gas & Electric’s shareholders pay $1.937 billion for 15 fires utility equipment sparked in 2017 and 2018. It is the largest California Public Utilities Commission fine to date. The penalty is higher than a proposed settlement reached by PG&E and regulatory safety staff. It is lower […]

Earnings Rise for PG&E & Sempra; Decline for Edison

4 May

Utility parent companies Pacific Gas & Electric Corp. and Sempra Energy reported higher earnings for the first quarter of the year. Edison International’s earnings went south. All the subsidiary utilities reaped higher revenue in their rate cases and from wildfire funding. The companies are seeing lower income from utility bill collections because of the pandemic. […]

The Buzz

30 Apr

Lawmakers’ mission when back in Sacramento will be economic recovery. In the meantime, live energy bills are whittled down largely to ones that fund alternative power and transportation sectors and create jobs to help the damaged state economy. Also in the active legislation bucket is legislation to reduce the impacts of safety shutoffs. A bill […]

CPUC Set to Lower PG&E Penalty, Approve Reorganization Plan

21 Apr

Pacific Gas & Electric would pay a total $1.94 billion penalty for the deadly Camp Fire that destroyed the City of Paradise in late 2018, and for 17 other fires it sparked that year and the previous year under a California Public Utilities Commission April 20 proposal. If adopted, it would be the largest penalty […]

PG&E Fire Victims Hear Pros & Cons of $13.5B Deal, Judge Says They Aren’t on Hook for Penalties

15 Apr

Pacific Gas & Electric’s wildfire victims are divided over a $13.5 billion proposed settlement. Many are concerned that other PG&E stakeholders in the bankruptcy proceeding will get far more money and sooner. “Follow the money,” attorney Bonnie Kane said during an evening April 14 discussion with fire victims, lawyers and bankruptcy law experts. She noted […]

The Buzz

9 Apr

The Energy Commission approves city ordinances that beat state building efficiency rules. It applauds California cities working to reduce greenhouse gas emissions from buildings. The Commission also continues to dole out millions of dollars in grants at its first remote business meeting to promote cleaner food and beer production, offshore wind, renewable gas and safer natural […]

Market Worries PG&E’s Wildfire Victims, Judge Rejects Call for New Disclosure

8 Apr

Updated April 9 Wildfire victims are divided on the $13.5 billion bankruptcy settlement reached with Pacific Gas & Electric earlier this year because the payout includes stock in the new company that emerges from reorganization and existing PG&E stock value has tumbled. Fire victims who want out of the deal attempted to get U.S. Bankruptcy […]

Energy Bills this Session

7 Apr

The unprecedented halt to legislative activities will result in a significant whittling down of the pile of state energy bills awaiting hearings. Bills expected to get priority, whenever the legislature returns to the state capital, include those bolstering grid and utility infrastructure performance during the upcoming wildfire season. That includes measures to make weather-driven utility […]

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. […]

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 […]

The Buzz

6 Mar

State lawmakers ask the private utilities hard questions about the new wildfire mitigation plans’ impacts on ratepayer pocketbooks and safety. Legislators also introduce new bills to keep PG&E et al from writing off penalties for safety violations. Other measures seek to increase the flow of renewable resources into utility grids and vehicles. To help close […]

Bills Keep Utilities from Benefiting from Wildfire Penalties, Promote Clean Power

5 Mar

Even before Pacific Gas & Electric was hit last Thursday with a $2.14 billion penalty for sparking devastating wildfires in 2017 and 2018, a bill was introduced to prohibit the utility from deducting it or other safety penalties from its tax liability. It would be “obscene” to allow PG&E to take a tax deduction on […]

Utility Wildfire Plans Raise Cost and Safety Issues

5 Mar

The cost to ratepayers and how soon fire protections will be in place are key concerns for lawmakers reviewing new billion dollar-plus wildfire plans submitted by the private utilities. The three utility 2020 prevention plans will raise rates, but there’s currently no way to figure out how much, Assemblymember Al Muratsuchi (D-Torrance) said during a […]

The Buzz

28 Feb

Pacific Gas & Electric is hit with a historic fine of $2.14 billion for igniting deadly wildfires in Northern California in 2017 and 2018. It comes a few days after PG&E reports significant losses in its 2019 earnings report. The private utilities in the southern half of the state fare far better. Southern California Edison, […]