UPDATE 2-California governor rejects PG&E bankruptcy reorganization plan [Reuters (UK)]
Pacific Gas & Electric Co. (PCG)
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Source: Reuters
California governor rejects PG&E bankruptcy reorganization plan - Reuters 5 Min Read (Reuters) - California Governor Gavin Newsom on Friday rejected a bankruptcy reorganization plan submitted by PG&E Corp ( PCG.N ), the state’s largest investor-owned utility, saying its proposal fails to meet the requirements of a recently enacted wildfire law. The decision by Newsom, sent to PG&E in a letter, complicates the company’s push to exit bankruptcy and provide billions of dollars to victims of devastating wildfires in 2017 and 2018 sparked by the utility’s power lines. The embattled utility now has until Tuesday to further amend its plan to Newsom’s satisfaction, but his criticism of the reorganization package as it was presented by PG&E a day earlier was sweeping. Newsom said the plan lacks “major changes in governance” and tougher safety enforcement mechanisms mandated under the state wildfire statute, known as Assembly Bill 1054, which was enacted in July. The governor also said PG&E’s
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News
- Divert, Inc. and PG&E Announce First-of-its-Kind Interconnection in California to Address the Wasted Food Crisis [Yahoo! Finance]Yahoo! Finance
- Divert, Inc. and PG&E Announce First-of-its-Kind Interconnection in California to Address the Wasted Food CrisisBusiness Wire
- On Utility Scam Awareness Day, PG&E Helps Customers Recognize and Avoid Utility ScamsPR Newswire
- Ahead of First Atmospheric River of the Season, PG&E Readies Resources, Crews to Support Customers and Hometowns [Yahoo! Finance]Yahoo! Finance
- Ahead of First Atmospheric River of the Season, PG&E Readies Resources, Crews to Support Customers and HometownsPR Newswire
PCG
Earnings
- 11/7/24 - Beat
PCG
Sec Filings
- 11/14/24 - Form 424B2
- 11/14/24 - Form 4
- 11/13/24 - Form FWP
- PCG's page on the SEC website