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PRESS RELEASE: City of San Francisco Testifies in PG&E Bankruptcy Case: Utility Taking on Too Much Debt to Meet State Wildfire Law Requirements, Will Need to Raise Rates to Stay Solvent

February 26, 2020

In its new reorganization plan, PG&E outlines strategy for emerging from bankruptcy with $35.4 billion in debt—65% more debt than the company holds today.

This high level of financial instability will prevent PG&E from meeting the requirements of “ratepayer neutrality” in AB 1054—unless the company can find new funding sources.

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