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The Biden administration has finalized a $ 15 billion loan guarantee to California utility Pacific Gas & Electric (PG&E), in the biggest outlay to a single group in the history of […]
The post Biden’s DOE Finalizes $ 15 Billion Loan Guarantee to California’s PG&E appeared first on POWER Magazine.
Itron, which provides energy, water, intelligent infrastructure services and more for utilities and cities, announced it is joining with California utility Pacific Gas and Electric (PG&E) to make electric vehicle […]
The post Itron, PG&E Announce Program to Support EV Charging with Grid Edge Intelligence appeared first on POWER Magazine.
Wildfires have had a devastating impact on California and on the state’s largest utility company, Pacific Gas and Electric (PG&E). PG&E’s equipment has been linked to several major wildfires in […]
The post How PG&E Is Reducing Wildfire Risks Using Satellite Imagery appeared first on POWER Magazine.
Pacific Gas and Electric Co. (PG&E) and its remote grid program received an honorable mention in the Energy category of Fast Company’s 2024 World Changing Ideas Awards. Winners were announced […]
The post PG&E Recognized for Remote Grid Program appeared first on POWER Magazine.
The post Judge Approves PG&E Bankruptcy Exit appeared first on POWER Magazine.
A federal judge in California has approved Pacific Gas & Electric’s plan to exit bankruptcy, clearing the way for the utility to compensate victims of a series of wildfires in the state that left more than 100 people dead in 2017 and 2018.
The action by U.S. Bankruptcy Judge Dennis Montali on June 20 authorized $ 13.5 billion in compensation for more than 70,000 businesses and homeowners for losses sustained during the fires, which officials said were started by PG&E’s equipment. The company will emerge from bankruptcy with about $ 40 billion in debt, after agreeing to settle claims from people, insurers, and local government agencies for $ 25.5 billion.
Montali’s approval also will allow PG&E to take part in a $ 20 billion state fund established by lawmakers, designed to help utilities operating in the state cover liabilities from future wildfires attributed to their transmission lines and other equipment. …
The post Judge: Court Will Consider Rival Proposal for PG&E Reorganization appeared first on POWER Magazine.
A federal bankruptcy judge on Oct. 9 ruled that Pacific Gas & Electric (PG&E), California’s largest utility, does not have the sole right to determine the terms of its reorganization. Judge Dennis Montali said those who support a rival proposal, which was devised by a group of the utility’s creditors, can have their plan considered.
The decision could have major consequences for the utility’s customers. PG&E filed for bankruptcy protection in January, with the company saying it faced $ 30 billion or more in liabilities related to wildfires in California that caused massive property damage and left dozens dead.
Montali ruled that the court can look at a reorganization plan created by a group of PG&E creditors that includes prominent hedge funds. The plan also is backed by individuals who have claims against the utility for wildfire damage.
Montali’s ruling Wednesday came after a court hearing on Monday in San Francisco.…