IS PG&E really ‘reimagined’ ?
July 6, 2020
“[I]t’s unclear there’s anything fundamentally different about the utility, which over the last decade has caused a deadly pipeline explosion, deadly fires and days-long power shut-offs affecting millions of people.”
— LOS ANGELES TIMES
Update On San Francisco’s Opposition to PG&E’s Plan
May 5, 2020
PG&E’s latest plan to emerge from bankruptcy made several minor adjustments, though it’s telling that none were substantial enough to require re-circulating their disclosure statement…
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.