PG&E’s future in doubt after Newsom rejects bankruptcy plan
Gov. Gavin Newsom on Friday rejected Pacific Gas & Electric’s proposal to pull itself out of bankruptcy, saying its reorganization plan falls “woefully short” of safety requirements set under state law and demanding the company make major changes if it wants to access billions of dollars in a fund to pay wildfire claims.
Newsom’s approval was not required under state law, but PG&E asked the governor to weigh in after reaching a $13.5-billion settlement with victims of some of California’s worst wildfires on record last week.
Richard Bridgford, an attorney who is part of a team representing wildfire victims, said the bankruptcy involves complex matters and balancing multiple interests. Among his list of concerns, Newsom said the utility should have a new board of directors and a better financial model to ensure that ratepayers aren’t saddled with high rate increases to fund future safety investments.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
PG&E’s future in doubt after Newsom rejects bankruptcy planGov. Gavin Newsom rejected PG&E's plan to exit bankruptcy on Friday.
Leer más »
PG&E’s future in doubt after Newsom rejects bankruptcy planGov. Gavin Newsom rejected PG&E's plan to exit bankruptcy on Friday.
Leer más »
California governor rejects PG&E's bankruptcy planThe utility last week agreed to pay $13.5 billion to wildfire claimants.
Leer más »
California governor rejects PG&E bankruptcy reorganization planCalifornia Governor Gavin Newsom on Friday rejected the bankruptcy reorganizatio...
Leer más »
California governor to decide on PG&E bankruptcy planCalifornia Governor Gavin Newsom was expected to decide late on Friday whether a...
Leer más »
California Governor Threatens to Block PG&E Bankruptcy ExitCalifornia Gov. Gavin Newsom is demanding changes to PG&E’s plan to pay wildfire victims and exit bankruptcy, saying the company’s current proposal “falls woefully short” of a law outlining requirements that would allow the utility to receive state assistance.
Leer más »