The Utility Reform Network is legally challenging regulators’ approval of Pacific Gas & Electric’s plan to issue $7.5 billion in ratepayer-backed bonds, plus $4 billion in interest and charges over 30 years, intended to cover part of the utility’s wildfire liability.
The California Public Utilities Commission has put “captive ratepayers at risk of paying for […]
The California Public Utilities Commission unanimously voted to require Pacific Gas & Electric shareholders, not ratepayers, to pay $25 million over five years for an independent state safety monitor. It won’t be the first time the company has had such a watchdog, but questions about the extent of oversight and who would […]
Pacific Gas & Electric Corp’s second quarter earnings were far better than ones in 2020, rising to $397 million, or 20 cents per share, the company reported July 29. That compares to a loss of $1.97 billion in last year’s second quarter […]
The California Public Utilities Commission plans to replace the outgoing federal monitor, who is keeping tabs on Pacific Gas & Electric compliance with safety and reliability laws, regulations, and protocols, with a state monitor next year. In light of the utility’s numerous violations over the last several years, an ongoing safety monitor was required as part of PG&E’s bankruptcy reorganization plan, approved almost a year ago.
Pacific Gas & Electric announced May 24 it found a buyer for its long-time headquarters in downtown San Francisco. It will sell its buildings on Beale and Market streets near the San Francisco Bay for $800 million to Hines Atlas US LP, a Delaware limited partnership. After 115 years in the City […]
The California Public Utilities Commission unanimously approved the financing order setting parameters for Pacific Gas & Electric’s unprecedented 30-year, $7.5 billion ratepayer financed securitization. It is the largest and lengthiest utility bond securitization in U.S. history, according to Joseph Fichera, Saber Partners CEO.