PG&E’s next CEO could be leader of Tennessee Valley Authority
5 years, 9 months ago

PG&E’s next CEO could be leader of Tennessee Valley Authority

LA Times  

Bloomberg The person to lead California utility giant PG&E Corp. out of the biggest utility bankruptcy in U.S. history may be Bill Johnson, the outgoing chief of the Tennessee Valley Authority, a federally operated utility. Johnson is PG&E’s top pick for chief executive, people familiar with the situation said, while cautioning that the company hasn’t made a final decision and is still discussing the potential hire. While nailing down a CEO pick, PG&E is also nearing an agreement with investors represented by law firm Jones Day that could see the company’s board revamped in the coming weeks, people familiar with the matter said. California’s chief utility regulator, Michael Picker, told interim PG&E CEO John Simon in a phone conversation Monday that the company will have to explain to the state why specific board members were selected.

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History of this topic

As California fires burn, PG&E CEO promises to fix the grid
3 years, 2 months ago

As California fires burn, PG&E CEO promises to fix the grid

LA Times  

This is the Oct. 14, 2021, edition of Boiling Point, a weekly newsletter about climate change and the environment in California and the American West. ME: On that note, let’s talk about putting more power “where the people are.” There are a lot of folks furious with PG&E, Southern California Edison and San Diego Gas & Electric for pushing Gov. …

Northern California utility finds latest CEO in Michigan
4 years, 1 month ago

Northern California utility finds latest CEO in Michigan

Associated Press  

SAN RAMON, Calif. — Embattled Northern California utility PG&E Corp. has lured away the top executive at Michigan’s largest power provider to steer its effort to restore a reputation tarnished by years of neglectful conduct that culminated in a series of deadly wildfires. Her hiring, announced Wednesday, comes nearly five months after the San Francisco company emerged from one of …

PG&E’s new CEO faces epic task of fixing ‘culture of ineptitude’
4 years, 1 month ago

PG&E’s new CEO faces epic task of fixing ‘culture of ineptitude’

LA Times  

After years of upheaval, criminal charges and bankruptcy, California utility giant PG&E Corp. has placed its fate in the hands of a new chief executive with a record of reducing accidents, cutting costs and building bridges. Patricia K. Poppe, a General Motors Co. veteran who now runs the Michigan utility CMS Energy Corp., will be PG&E’s fourth leader in the …

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 …

Meet the new PG&E. It looks a lot like the old PG&E
4 years, 6 months ago

Meet the new PG&E. It looks a lot like the old PG&E

LA Times  

An art installation titled “Outlet-plug-cord” by Basal Ganglia Studio is displayed on the side of a Pacific Gas & Electric substation in Petaluma. Pacific Gas & Electric Chief Executive Bill Johnson promised his company would emerge from bankruptcy a “reimagined utility.” But as PG&E prepares for life after Chapter 11 — a Bankruptcy Court judge filed a written decision Wednesday …

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 …

PG&E bankruptcy nears end: Newsom OKs restructuring plan
4 years, 9 months ago

PG&E bankruptcy nears end: Newsom OKs restructuring plan

LA Times  

The biggest utility bankruptcy in U.S. history is drawing to a close: PG&E Corp. reached a deal with California Gov. The consent from Newsom, who objected to earlier versions of PG&E’s turnaround plan, greatly boosts the odds the utility will exit bankruptcy by a state-imposed deadline of June 30. PG&E’s reorganization still needs approval from the judge overseeing its bankruptcy …

PG&E CEO blames past management for problems, promises fixes
4 years, 10 months ago

PG&E CEO blames past management for problems, promises fixes

Associated Press  

SAN FRANCISCO — PG&E Corp. CEO Bill Johnson blamed negligence by the company’s past management for a cascade of catastrophes that killed nearly 140 people as he tried to persuade California regulators Tuesday that he is steering the utility to make safety its top priority. He couldn’t explain how the lack of accountability and organization happened because he said he …

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 …

US power firm PG&E reportedly offers $13.5bn in fire compensation
5 years, 1 month 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. …

Gov. Gavin Newsom hints at government control of PG&E if bankruptcy effort fizzles
5 years, 2 months ago

Gov. Gavin Newsom hints at government control of PG&E if bankruptcy effort fizzles

LA Times  

Gavin Newsom demanded Friday that Pacific Gas & Electric shareholders and executives, wildfire victims, bondholders and other parties involved in the company’s bankruptcy convene in Sacramento next week to work out a deal — and threatened to craft a government-led plan to restructure the state’s largest utility if an agreement isn’t reached quickly. “If the parties fail to reach an …

There’s a new sheriff at the California Public Utilities Commission. PG&E better shape up
5 years, 2 months ago

There’s a new sheriff at the California Public Utilities Commission. PG&E better shape up

LA Times  

There’s a new sheriff in town to regulate utilities and force them to toe the line in wildfire prevention and power shutdowns. Newsom calls her “one of the most accomplished management experts in state government.” OK, a smart aleck would say that’s a low bar. “What we saw play out by PG&E last week cannot be repeated,” Batjer told the …

PG&E loses exclusive control of its bankruptcy recovery plan
5 years, 3 months ago

PG&E loses exclusive control of its bankruptcy recovery plan

LA Times  

PG&E has lost the exclusive right to submit a plan to reorganize its debts so that it can emerge from bankruptcy. California power giant PG&E Corp. was stripped of its right to exclusively pitch a reorganization plan in court, escalating an already heated battle over the largest utility bankruptcy in U.S. history. U.S. Bankruptcy Judge Dennis Montali said he’ll allow …

PG&E names Bill Johnson as CEO and overhauls its board
5 years, 9 months ago

PG&E names Bill Johnson as CEO and overhauls its board

LA Times  

Bill Johnson, shown in 2017, is wrapping up his time as CEO of the Tennessee Valley Authority, the nation’s largest public utility. PG&E Corp. announced an overhaul of its leadership late Wednesday: The troubled California utility chose Bill Johnson as president and chief executive and named 10 new directors to its board. PG&E’s “board refreshment” comes as the company faces …

PG&E Chief Executive Geisha Williams leaves as utility readies for possible bankruptcy
5 years, 11 months ago

PG&E Chief Executive Geisha Williams leaves as utility readies for possible bankruptcy

LA Times  

Two men look through a vehicle with a downed utility pole in the foreground after the Camp fire burned through Paradise, Calif., in November. Williams, 57, has run the company since March 2017, during which time PG&E has faced a string of both natural and self-inflicted blows that have marred the utility’s reputation and financial health. The company’s deepening financial …

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