Devastating Wildfires Force California's Largest Utility To Plan Sale Of Gas Assets
6 years ago

Devastating Wildfires Force California's Largest Utility To Plan Sale Of Gas Assets

NPR  

Devastating Wildfires Force California's Largest Utility To Plan Sale Of Gas Assets Enlarge this image toggle caption Noah Berger/AP Noah Berger/AP Updated at 6:29 p.m. Sponsor Message All net proceeds from the sale of PG&E's gas division would be used to set up a fund to pay billions of dollars in potential claims from wildfires, the sources said. Wildfire damages In June, the state's fire agency, Cal Fire, determined that PG&E power equipment was responsible for sparking at least a dozen major fires across Northern California in 2017. The gas sale strategy would have to be approved by the state regulatory agency, the California Public Utilities Commission, which has already expressed deep concerns about PG&E's shoddy safety record, lack of transparency and past efforts to pass liability costs on to the state's ratepayers. "PG&E has had serious safety problems with both its gas and electric operations for many years," the California Public Utilities Commission said in a statement.

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History of this topic

PG&E hit with $225-million lawsuit for 2021 Dixie fire damages
9 months ago

PG&E hit with $225-million lawsuit for 2021 Dixie fire damages

LA Times  

Flames consume vehicles as the Dixie fire tears through the Indian Falls community in Northern California’s Plumas County in July 2021. The complaint, filed Wednesday by Oregon-based Collins Pine Co. and six affiliated timber businesses with property in the Collins Almanor Forest in Plumas and Tehama counties, alleges that PG&E failed to properly manage the forest and electrical equipment to …

PG&E penalized $45 million in Dixie fire settlement with CPUC
11 months, 3 weeks ago

PG&E penalized $45 million in Dixie fire settlement with CPUC

LA Times  

Pacific Gas & Electric Company will be penalized $45 million for its involvement in one of the largest and most destructive wildfires in California history under a settlement reached recently between the utility and state regulators. The Dixie fire, which burned nearly 1 million acres and destroyed more than 1,300 homes, ignited July 13, 2021, after a Douglas fir tree …

Ex-PG&E execs to pay $117M to settle lawsuit over wildfires
2 years, 3 months ago

Ex-PG&E execs to pay $117M to settle lawsuit over wildfires

Associated Press  

OAKLAND, Calif. — Former executives and directors of Pacific Gas & Electric have agreed to pay $117 million to settle a lawsuit over devastating 2017 and 2018 California wildfires sparked by the utility’s equipment, it was announced Thursday. The settlement was announced by the PG&E Fire Victim Trust, which was established to handle claims filed by more than 80,000 victims …

Former PG&E executives agree to $117-million settlement over California wildfires
2 years, 3 months ago

Former PG&E executives agree to $117-million settlement over California wildfires

LA Times  

All but a few homes in the Pine Grove Mobile Home Park were destroyed in the Camp fire in 2018. Former executives with utility giant Pacific Gas & Electric have reached a $117-million settlement agreement in connection with the 2017 North Bay fires and the 2018 Camp fire, officials said. Under its bankruptcy plan, PG&E allowed the Fire Victim Trust …

Cal Fire cites ‘excessively delayed response’ by PG&E for spread of massive Dixie fire
2 years, 7 months ago

Cal Fire cites ‘excessively delayed response’ by PG&E for spread of massive Dixie fire

LA Times  

An “excessively delayed response” from Pacific Gas & Electric Co. enabled last year’s Dixie fire to spread in the early hours after ignition, the California Department of Forestry and Fire Protection concluded in a final report made public this week. “The prolonged response to the initial outage and fault that occurred at 6:48 a.m. was a direct and negligent factor …

California utility to pay $55 million for massive wildfires
2 years, 9 months ago

California utility to pay $55 million for massive wildfires

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Pacific Gas & Electric has …

PG&E to pay more than $55 million to avoid criminal prosecution for starting two wildfires
2 years, 9 months ago

PG&E to pay more than $55 million to avoid criminal prosecution for starting two wildfires

LA Times  

Flames consume a home on Highway 89 as the Dixie fire tears through the Greenville community of Plumas County in August. The maximum criminal fine in connection with the Dixie fire would have been just $329,417, according to the North State district attorneys, a consortium of prosecutors representing Butte, Lassen, Plumas, Shasta and Tehama counties. But community advocate Will Abrams, …

PG&E wildfire victims sue former management for neglect
3 years, 10 months ago

PG&E wildfire victims sue former management for neglect

LA Times  

A trust representing victims of deadly wildfires ignited by Pacific Gas & Electric’s rickety electrical grid is suing nearly two dozen of the utility’s former executives and board members. A trust representing more than 80,000 victims of deadly wildfires ignited by Pacific Gas & Electric’s rickety electrical grid is suing nearly two dozen of the utility’s former executives and board …

PG&E to shut off power to over 1 million people in Northern California
4 years, 2 months ago

PG&E to shut off power to over 1 million people in Northern California

LA Times  

Pacific Gas & Electric says it will cut power to over 1 million people in Northern California on Sunday to prevent the chance of sparking wildfires as extreme fire weather returns to the region, the utility said late Friday. The nation’s largest utility said it will black out customers in 38 counties — including most of the Bay Area — …

PG&E emerges from bankruptcy
4 years, 6 months ago

PG&E emerges from bankruptcy

LA Times  

PG&E, which has emerged from bankruptcy nearly a year and a half after filing for protection under Chapter 11, plans to sell its downtown San Francisco headquarters and move to Oakland. “Our emergence from Chapter 11 marks just the beginning of PG&E’s next era — as a fundamentally improved company and the safe, reliable utility that our customers, communities and …

PG&E pleads guilty to 84 deaths in 2018 California wildfire
4 years, 7 months ago

PG&E pleads guilty to 84 deaths in 2018 California wildfire

Al Jazeera  

‘Our equipment started that fire’, utility’s CEO says as company admits to involuntary manslaughter in California court. PG&E Chief Executive Officer Bill Johnson entered individual guilty pleas on Tuesday on behalf of the company for 84 felony counts of involuntary manslaughter stemming from the fire, which was blamed on the company’s crumbling electrical grid. “PG&E will never forget the Camp …

PG&E takes a big step toward emerging from bankrupty as regulators OK the utility’s overhaul
4 years, 7 months ago

PG&E takes a big step toward emerging from bankrupty as regulators OK the utility’s overhaul

LA Times  

A traffic cone sits next to a Pacific Gas & Electric truck. California regulators approved PG&E Corp.’s $58-billion reorganization plan, bringing the power giant another step closer to exiting the biggest utility bankruptcy in U.S. history. “PG&E is a recalcitrant criminal, and I’m going to do everything within my power to protect the people of California from further crimes and …

PG&E’s top exec to end short stint at beleaguered utility
4 years, 8 months ago

PG&E’s top exec to end short stint at beleaguered utility

Associated Press  

BERKELEY, Calif. — PG&E Corp. CEO Bill Johnson will step down from his job just 14 months after the nation’s largest utility hired him to rescue it from a financial mess caused by a history of negligence and to change a corporate culture that emphasized profits over safety. The California Public Utilities Commission, which oversees PG&E’s operations, said it will …

Editorial: It’s no government takeover of PG&E, but it’s still a possibility for the state’s most dangerous utility
4 years, 9 months ago

Editorial: It’s no government takeover of PG&E, but it’s still a possibility for the state’s most dangerous utility

LA Times  

It’s not the government takeover that many Californians were hoping for in light of the massive utility-sparked fires in recent years and the bungled “public safety power shutoffs” last fall. Gavin Newsom struck with Pacific Gas & Electric last week to let the state’s largest and most dangerous utility exit out of bankruptcy will bring some badly needed new oversight …

Regulators boost PG&E’s wildfire fine to $2.1 billion
4 years, 10 months ago

Regulators boost PG&E’s wildfire fine to $2.1 billion

Associated Press  

SAN FRANCISCO — California power regulators on Thursday slapped Pacific Gas & Electric with a $2.1 billion fine for igniting a series of deadly wildfires that landed the beleaguered utility in bankruptcy. Several consumer groups had protested the settlement as too lenient in light of PG&E’s destruction, and the California Public Utilities Commission agreed after further review. The San Francisco …

California governor wants to grill PG&E about financing plan
4 years, 11 months ago

California governor wants to grill PG&E about financing plan

Associated Press  

SAN FRANCISCO — Pacific Gas & Electric’s plan to emerge from bankruptcy faced another threat from California Gov. Newsom’s lawyers told U.S. Bankruptcy Judge Dennis Montali they want to grill PG&E about the company’s plans to borrow billions of dollars and sell more stock to help pay the $13.5 billion owed to more than 75,000 victims of catastrophic wildfires ignited …

PG&E and California governor at odds over bankruptcy plan
4 years, 11 months ago

PG&E and California governor at odds over bankruptcy plan

Associated Press  

SAN FRANCISCO — Pacific Gas & Electric attorneys on Wednesday assured a federal judge the utility will emerge from bankruptcy by its June deadline, even as California Gov. PG&E’s bankruptcy plan requires support from the governor and the state’s chief regulator, giving Newsom unusual leverage as the utility seeks to qualify for a wildfire insurance fund state lawmakers approved last …

PG&E says it has reached $13.5 billion wildfire settlement
5 years, 1 month ago

PG&E says it has reached $13.5 billion wildfire settlement

Associated Press  

LOS ANGELES — Pacific Gas and Electric announced Friday it has reached a tentative $13.5 billion settlement resolving all major claims related to the deadly, devastating Northern California wildfires of 2017-2018 that were blamed on its outdated equipment and negligence. “From the beginning of the Chapter 11 process, getting wildfire victims fairly compensated, especially the individuals, has been our primary …

PG&E reaches $13.5-billion settlement with victims of devastating California wildfires
5 years, 1 month ago

PG&E reaches $13.5-billion settlement with victims of devastating California wildfires

LA Times  

The Camp fire burns last year outside of Pulga, Calif., on the North Fork of the Feather River. Richard Bridgford, an attorney who is part of the team representing the victims, called the settlement a “delicate balance” that has three goals: compensating victims as much as possible, deterring future “bad behavior” by the utility and allowing the utility to remain …

US power firm PG&E reportedly offers $13.5bn in fire compensation
5 years, 2 months ago

US power firm PG&E reportedly offers $13.5bn in fire compensation

Al Jazeera  

Bankrupt utility giant PG&E Corp. is offering $13.5 billion in compensation to the victims of wildfires sparked by its power lines as part of a restructuring plan, according to people with knowledge of the situation. PG&E has spent months trying to come up with a restructuring plan that would get it out of the biggest utility bankruptcy in U.S. history …

Editorial: PG&E is California’s most troubled electric utility. Time for a government takeover?
5 years, 2 months ago

Editorial: PG&E is California’s most troubled electric utility. Time for a government takeover?

LA Times  

Time’s up for Pacific Gas & Electric Co. We’ve reached a point where public ownership of PG&E shouldn’t just be on the table, it should be actively explored by state and local officials. “Municipalization,” as it is called, has gained traction in northern California as the public’s simmering anger toward PG&E spiked with its wide-scale pre-emptive power shutoffs this month. …

The Hopelessness of Wildfire Season
5 years, 2 months ago

The Hopelessness of Wildfire Season

Slate  

Fires are roaring across California again. Officials haven’t determined the cause, but a jumper cable connecting PG&E equipment to a transmission tower near Kincade Road failed just minutes before officials say the fire began in the same location. Right now, PG&E would rather pull the plug on hundreds of thousands of people across large areas of the state for a …

PG&E Agrees to Pay $11 Billion to Settle With Insurers Over California Wildfires
5 years, 4 months ago

PG&E Agrees to Pay $11 Billion to Settle With Insurers Over California Wildfires

Slate  

The utility company PG&E, which owned the equipment that sparked the deadly Camp Fire in Northern California in 2018, has settled with insurance carriers for $11 billion, the company announced Friday. According to the Associated Press, the settlement will resolve roughly 85 percent of claims related to the 2018 fire and the 2017 Northern California fires that were also blamed …

A swift fall from political power for PG&E, California’s largest utility
5 years, 4 months ago

A swift fall from political power for PG&E, California’s largest utility

LA Times  

Pacific Gas & Electric Co. has struggled to find friends at the state Capitol after years of massive wildfires and claims of mismanagement. “Many legislators thought it was one ask too many from PG&E this session, even if they agree with the policy,” said Steven Maviglio, a veteran Democratic strategist hired by the company’s shareholders to push the proposal this …

PG&E looks to cap wildfire costs at $18 billion through its bankruptcy plan
5 years, 4 months ago

PG&E looks to cap wildfire costs at $18 billion through its bankruptcy plan

LA Times  

The Paradise Inn goes up in flames on Nov. 9, 2018, during the Camp fire, which tore through Paradise, north of Sacramento. California utility giant PG&E Corp. is proposing to cap the wildfire liabilities that forced it into bankruptcy at about $18 billion — less than half of what victims and insurers have said they’re owed. PG&E’s plan kicks off …

California needs a big pot of money for wildfires. But how big? And who pays?
5 years, 6 months ago

California needs a big pot of money for wildfires. But how big? And who pays?

LA Times  

Gavin Newsom speaks at the California for All: Emergency Management Preparedness Summit on June 3 in Sacramento. Stock analysts predict that Southern California Edison could follow Pacific Gas & Electric into bankruptcy if Newsom fails to calm the energy markets and a major wildfire hits in Southern California, leaving victims across the state struggling to recoup their losses from insolvent …

Officials: PG&E equipment sparked deadly California wildfire
5 years, 8 months ago

Officials: PG&E equipment sparked deadly California wildfire

Associated Press  

SAN FRANCISCO — Pacific Gas & Electric Corp. power lines sparked a Northern California blaze that killed 85 people last year, making it the deadliest U.S. wildfire in a century, state fire officials said Wednesday. Cal Fire said transmission lines owned and operated by the San Francisco-based utility started the Nov. 8 fire that nearly destroyed the town of Paradise …

Column: California utilities use wildfires as an excuse to wring ratepayers dry
5 years, 8 months ago

Column: California utilities use wildfires as an excuse to wring ratepayers dry

LA Times  

Who should pay for the destruction of Paradise, Calif.? It always was predictable that California’s utilities would ask for a heap of government assistance to cover their financial liabilities resulting from two years of epic wildfires. — Utility expert Steven Weissman Edison is seeking an increase from the state Public Utilities Commission of more than 6% in its allowable return …

Who’s responsible for California’s deadliest and most destructive wildfire?
5 years, 9 months ago

Who’s responsible for California’s deadliest and most destructive wildfire?

Al Jazeera  

While the official state investigation is ongoing, California’s largest utility company PG&E has admitted that its equipment likely caused the fire. It turns out that utility tower is part of a century-old high-voltage transmission line that PG&E had designated five years earlier as needing an overhaul, and which the company knew posed a safety risk but kept delaying the work. …

PG&E admits its equipment likely sparked California’s most destructive wildfire
5 years, 10 months ago

PG&E admits its equipment likely sparked California’s most destructive wildfire

LA Times  

Nearly four months after California’s most devastating wildfire swept through Paradise and surrounding towns, Pacific Gas & Electric Co. has acknowledged that its equipment probably sparked the blaze that destroyed nearly 14,000 homes and killed 85 people, most of them elderly. The official investigation into the cause of the Butte County blaze is continuing, but the utility said Thursday that …

Federal Judge Blasts PG&E's Commitment To California Wildfire Safety
5 years, 11 months ago

Federal Judge Blasts PG&E's Commitment To California Wildfire Safety

NPR  

Federal Judge Blasts PG&E's Commitment To California Wildfire Safety A federal judge in California blasted utility giant Pacific Gas and Electric on Wednesday, accusing the beleaguered company of putting profits before customer safety and not doing enough to keep trees away from its power lines, thus increasing the risk of wildfires. An investigation is underway to determine what role PG&E's …

The California Energy Utility That May Have Sparked the Deadly Camp Fire Has Filed for Bankruptcy
5 years, 11 months ago

The California Energy Utility That May Have Sparked the Deadly Camp Fire Has Filed for Bankruptcy

Slate  

On Monday evening, the board of directors of Pacific Gas and Electric, the investor-owned energy utility that serves 16 million people throughout Northern California, voted to file for bankruptcy. Consumer advocates and politicians have derided PG&E’s move to file for bankruptcy, claiming the investors who own PG&E are attempting pass the burden of their debt and failure to maintain equipment …

California Power Provider PG&E Files For Bankruptcy In Wake Of Fire Lawsuits
5 years, 11 months ago

California Power Provider PG&E Files For Bankruptcy In Wake Of Fire Lawsuits

NPR  

California Power Provider PG&E Files For Bankruptcy In Wake Of Fire Lawsuits Enlarge this image toggle caption Josh Edelson/AFP/Getty Images Josh Edelson/AFP/Getty Images Updated at 1:03 p.m. Chapter 11 "is really the best way to deal comprehensively with all the liabilities they have," says University of California, Berkeley, law professor Ken Ayotte, an expert on corporate bankruptcy. Enlarge this image …

PG&E files for bankruptcy protection. Here’s why that could mean bigger electricity bills
5 years, 11 months ago

PG&E files for bankruptcy protection. Here’s why that could mean bigger electricity bills

LA Times  

PG&E Corp., which owns California’s largest electric utility, filed for bankruptcy protection Tuesday in anticipation of huge legal claims, starting an unpredictable process that could take years to resolve and is likely to result in higher energy bills for the millions of Californians who depend on Pacific Gas & Electric for power. PG&E’s bankruptcy could slow California’s fight against climate …

PG&E Says Federal Judge's Safety Plan Is Not Feasible And Too Expensive
5 years, 11 months ago

PG&E Says Federal Judge's Safety Plan Is Not Feasible And Too Expensive

NPR  

PG&E Says Federal Judge's Safety Plan Is Not Feasible And Too Expensive Enlarge this image toggle caption Noah Berger/AP Noah Berger/AP Attorneys for utility giant Pacific Gas and Electric say a federal court proposal to require the company to enact a major fire-prevention program could cost as much as $150 billion dollars and the removal of 100 million trees from …

California utility tied to wildfires to file for bankruptcy
6 years ago

California utility tied to wildfires to file for bankruptcy

CNN  

New York CNN Business — Pacific Gas and Electric, facing billions of dollars in claims over the deadly 2018 Camp Fire, is headed to bankruptcy court. PG&E, the state’s largest utility, said Monday it will file for bankruptcy on January 29, after a 15-day waiting period required by California law. “The people affected by the devastating Northern California wildfires are …

PG&E Plans To File For Bankruptcy Over Possible Liability In California Wildfires
6 years ago

PG&E Plans To File For Bankruptcy Over Possible Liability In California Wildfires

NPR  

PG&E Plans To File For Bankruptcy Over Possible Liability In California Wildfires Enlarge this image toggle caption David Paul Morris/Bloomberg via Getty Images David Paul Morris/Bloomberg via Getty Images Updated at 4 p.m. The state's fire agency, Cal Fire, determined in June that PG&E equipment had sparked 17 wildfires across Northern California in 2017. If PG&E is found legally responsible …

Pacific Gas & Electric CEO quits following deadly California wildfires
6 years ago

Pacific Gas & Electric CEO quits following deadly California wildfires

Daily Mail  

Geisha Williams, the first Latina CEO of a Fortune 500 company, steps down as PG&E faces possibly billions in liabilities and possible murder charges The CEO of Pacific Gas and Electric resigned Sunday and employees could learn this week if the utility will declare insolvency while facing billions of dollars in liability over its role in recent California wildfires. No …

What would happen if PG&E sold its gas business or filed for bankruptcy?
6 years ago

What would happen if PG&E sold its gas business or filed for bankruptcy?

LA Times  

An aerial view of destruction by the Camp fire in Paradise, off Clark Road, on Nov. 15, 2018. UPDATE: Battered by wildfires and scandals, PG&E files for bankruptcy » The consequences of bankruptcy or an asset sale could ripple far beyond the utility’s shareholders, some experts say, affecting 16 million Californians who depend on PG&E for energy and potentially threatening …

PG&E stock dives on reports it may face $30 billion in fire liabilities and may file for bankruptcy
6 years ago

PG&E stock dives on reports it may face $30 billion in fire liabilities and may file for bankruptcy

LA Times  

Volunteers in November search for human remains in the rubble of homes burned in the Camp fire in Paradise, Calif. PG&E Corp. stock dived more than 20% Monday morning on reports that the California utility could face at least $30 billion in liability related to fires and has considered filing for bankruptcy protection. PG&E has said a transmission line in …

California utility’s role in wildfires under scrutiny
6 years ago

California utility’s role in wildfires under scrutiny

CNN  

CNN — As investigators seek to determine the cause of the deadliest wildfire in California history, the culprit that fire officials have linked to more than a dozen fires that ravaged large swaths of Northern California last year is again in the hot seat. Last year alone, PG&E equipment caused 17 fires, often after falling branches or trees came into …

After California fires, PG&E proposes raising electricity bills to bolster precautions
6 years, 1 month ago

After California fires, PG&E proposes raising electricity bills to bolster precautions

CNN  

CNN — California utility Pacific Gas & Electric Co. is asking for a rate hike of almost $2 billion from customers, saying more than half will go toward wildfire safety. In a proposal submitted Thursday to the California Public Utilities Commission, PG&E is asking for $1.1 billion in new revenue in 2020, including $576 million for the Community Wildfire Safety …

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