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Edison’s Earnings Drop, PG&E’s Losses Less Grim

30 Jul

Two of California’s three investor-owned utilities reported second quarter earnings this week. Edison International’s earnings were not as rosy as the same quarter last year, Pacific Gas & Electric Corp’s were not as bad. Sempra reports earnings next week. Edison International, the parent company of Southern California Edison, reported a drop in second quarter earnings […]

PG&E Sparked Last Fall’s Kincaid Fire, CalFire Finds

16 Jul

Following an investigation, Cal-Fire concluded July 16 that Pacific Gas & Electric was responsible for starting the Kincaid Fire near Geyserville, in Sonoma County, last October. The fire began Oct. 23 and burned until Nov. 6, destroying 374 structures and scorching nearly 78,000 acres. The announcement comes less than a month after PG&E emerged from […]

Newsom Beefs Up Fire Fighting Budget, Adds Social Distancing Plan

9 Jul

As summer temperatures increase, Gov. Gavin Newsom announced the addition of 858 fire fighters in CaFire ranks and six new California Conservation crews. Safety protocols to avoid the spread of Covid-19 will be in place for firefighters and those evacuated. “Even in a challenging budget climate, we have undertaken major action and made significant investments […]

The Buzz

2 Jul

Before the start of the fireworks, Pacific Gas & Electric announced it funded most of the $6.75 billion cash payment to fire victims. It also lined up another $12 billion to pay insurance claims as well as cities impacted by utility-sparked fires that burned from 2015-2018. Hydrogen fuel to lower transportation emissions, California’s biggest source […]

PG&E Has $17B on Hand for Fire Victims & Cities

1 Jul

Updated July 2 Pacific Gas & Electric announced July 1 it funded much of the cash portion of its $13.5 billion settlement with victims of wildfires from 2015-18, as well as the Oakland Ghost Ship warehouse fire. PG&E funded the victim trust with $5.4 billion in cash. It will receive a further $650 million cash […]

CA Budget Seeds PG&E Alternative

1 Jul

There is a clue in the new budget agreed to by lawmakers and the governor that they are serious about taking over PG&E and turning it into a non-profit utility. The budget contains a provision for a $50 million loan to the new entity under the newly enacted SB 350. That law says PG&E would […]

Bill Creating a Public Gas & Electric Becomes Law

30 Jun

Gov. Gavin Newsom signed into law June 30 legislation creating a state takeover of Pacific Gas & Electric if it is unable to complete its $58 billion in post bankruptcy financing by Sept. 30. If poorly maintained utility equipment causes another fire or disaster that also would trigger the takeover under SB 350 by Sen. […]

The Buzz

25 Jun

California sets the nation’s first statewide mandate to electrify medium- and heavy-duty trucks beginning in 2024. State energy regulators and utilities will play key roles in the success of the transition away from polluting diesel trucks to electrified ones by getting needed charging infrastructure built. The California Public Utilities Commission expands the local resources adequacy […]

Court Approves PG&E $60B Financing Scheme, Company Issues More Debt

23 Jun

The U.S. Bankruptcy Court confirmed Pacific Gas & Electric’s $58 billion reorganization to resolve massive claims—from wildfire victims and other creditors—10 days ahead of a legislative June 30 deadline. That is the final date for accessing the $21 billion utility ratepayer and shareholder funded fire trust, which PG&E and the court have kept their eyes […]

Shorts

16 Jun

Pacific Gas & Electric pled guilty June 16 in Butte County Superior Court to 84 counts of manslaughter and one count of illegally starting the 2018 Camp Fire. “I have heard the pain and the anguish of victims as they’ve described the loss they continue to endure, and the wounds that can’t be healed,” Bill […]

The Buzz

11 Jun

After months of few energy items on the California Public Utilities Commission business meeting agendas, this week’s one is dense, and action packed. After honoring the death of George Floyd, the five utility regulators approve Pacific Gas & Electric’s plan to install diesel-fueled generators to provide power during safety outages. The CPUC also signs off […]

Shorts

11 Jun

Pacific Gas & Electric announced it will have a new 11-member board after it emerges from bankruptcy. Of those 11 directors, six will be Californians, PG&E announced June 10. The new board members include Mike Niggli, former head of San Diego Gas & Electric, Arno Harris, Recurrent CEO and founder, the former Federal Emergency Management […]

PG&E Takeover Bill Passes Key Assembly Vote

9 Jun

Updated June 10 Legislation to allow California to seize Pacific Gas & Electric’s electric and gas infrastructure if the company fails to finance its $58 billion reorganization plan by the end of September or starts another large fire passed the Assembly Utilities & Energy Committee on a 12-2 vote. “It is a bill I hope […]

PG&E to Sell San Francisco Headquarters, Issue $9B in Stock

9 Jun

Pacific Gas & Electric announced June 8 that it would sell its San Francisco headquarters near the Embarcadero waterfront. After more than 115 years in the City by the Bay, it plans to relocate to Oakland in the East Bay the year after next. The move is expected to lower company costs. The same day, […]

The Buzz

4 Jun

Pacific Gas & Electric’s plan to reduce wildfire threats and safety outages is half empty or half full, depending on your perspective. While the CPUC President says she is optimistic about the improvements in the 2020 plan, she has doubts about it being successfully implemented. In spite of the concerns, none are raised about its […]

JUICE: Small is Beautiful

2 Jun

As appalling as Pacific Gas & Electric’s track record of safety deficiencies has been over the years—from sparking massive wildfires to gas pipeline blowouts—turning it into a centralized public utility could be worse. It could create one big albatross hanging on Californians’ collective neck.   The high stakes matter is riddled with financial, legal, and […]

The Buzz

28 May

The California Public Utilities Commission approves Pacific Gas & Electric’s huge debt package to get it out of federal bankruptcy court by the end of June as directed by state legislation.   Moving on a parallel track is legislation setting the stage for California to seize PG&E’s gas and electric assets. Putting the utility under […]

CPUC Gives PG&E Bankruptcy Plan the Green Light

28 May

State utility regulators May 28 unanimously signed off on a $58 billion bankruptcy reorganization plan for Pacific Gas & Electric, California’s largest utility. Marybel Batjer, California Public Utilities Commission president, said the plan leaves some important power in the hands of regulators, including the ability to force PG&E to prioritize customer safety. She said that, […]

Hearing on PG&E Takeover Bill Delayed

28 May

A key vote on dramatic legislation allowing the state to turn Pacific Gas & Electric into a state-owned, non-profit power agency was postponed May 28. Assembly Utilities & Energy Committee Chair Chris Holden (D-Pasadena) said the author asked for more time to work out the provisions of SB 350, creating Golden State Energy. SB 350’s […]

Batjer Wins Easy Confirmation as CPUC President

27 May

The Senate Rules Committee unanimously confirmed Marybel Batjer as the California Public Utilities Commission president May 27. Batjer, who appeared by video stream before the committee, faced no opposition from committee members or the public. “We are very lucky to have you,” Senate pro Tem Toni Atkins said before the 4-0 confirmation vote. Batjer was […]