Weekly Energy Digest for March 27, 2020

by | Mar 27, 2020

A few energy-related news stories we’ve been reading …

California

‘Deeply flawed and very risky’: 2 Fire Victims Resign Key Roles in PG&E Bankruptcy

Two of the 11 people on the fire victims’ committee involved in PG&E Corp.’s bankruptcy proceedings have resigned their positions, a fresh sign of discord in the high-profile case that the company is trying to conclude in the coming months. (San Francisco Chronicle, March 26)

PG&E Plans to Pay its $4-million Fine for Involuntary Manslaughter Out of Fire Victims Fund

Pacific Gas & Electric, the utility that has pleaded guilty to 84 counts of involuntary manslaughter for the 2018 Camp fire, plans to pay its $4-million fine from a fund set aside for victims of the blaze. (Los Angeles Times, March 26)

California Could Buy PG&E Under Bankruptcy Deal with Newsom

 The State of California could buy Pacific Gas and Electric Co. if the company does not conclude its bankruptcy case on time or has its license revoked by regulators, according to a landmark deal with Gov. Gavin Newsom that the company revealed Friday. (San Francisco Chronicle, March 21)

San Onofre Nuclear Plant Continues Waste Transfers Amid COVID-19 Restrictions

Southern California Edison, the operator of the shuttered San Onofre nuclear power plant, announced Wednesday a “temporary curtailment of some deconstruction work” at the facility, but said transfers of heavy canisters filled with used-up nuclear fuel will continue. (San Diego Union-Tribune, March 25 )

Despite COVID-19, Sempra Projects Big Earnings in Annual Investors Meeting

In the face of all the financial and social turmoil caused by the coronavirus pandemic, Sempra Energy – the Fortune 500 company that counts San Diego Gas & Electric among its subsidiaries – did not make any significant alterations to its overall corporate strategy when executives held their annual Investors Day meeting on Tuesday. (San Diego Union-Tribune, March 24)

Nation/World

Federal officials reach deal on $2 trillion aid package, Green New Deal Not Included

The White House and Senate leaders of both parties struck an agreement late Tuesday on a sweeping $2 trillion measure to aid workers, businesses and a health care system strained by the rapidly spreading coronavirus outbreak. Not included in the Federal Relief Package was the $3 billion sought by the Trump Administration for use by the Energy Department to fill up the Strategic Petroleum Reserve amid a price war between Saudi Arabia and Russia that has tangled oil markets and cut prices to historic lows. (Associated Press, March 25)

COVID-19 and the Climate

When tasked with writing an energy blog this week, James Sallee considered how the coronavirus might be connected to climate change. (Energy Institute at Haas, March 22)

OPEC, U.S. Shale Producers Open Talks Amid Oil Rout

U.S. oil industry regulators opened a dialogue with OPEC in talks that could help foster a truce between the world’s three largest oil producers and potentially resolve a Saudi-Russian price war that has devastated oil markets in recent weeks, according to people familiar with the matter. (Wall Street Journal, March 20)

Some U.S. Energy Officials Want Saudis to Ditch OPEC

A group of Energy Department officials are pushing the Trump administration to forge an oil alliance with Saudi Arabia, partnership supporters say could pave the way for the Saudis to leave OPEC, according to people familiar with the situation. (Wall Street Journal, March 20)

 

 

 

 

 

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