PG&E Names 11 New Board Members as Part of Bankruptcy Agreements
As a condition of the Chapter 11 process, PG&E announced the selection of a new board of directors to who will be officially appointed once the utility emerges from bankruptcy.
Utility Appeals Transmission Line Inspection Requirements
On May 13, PG&E appealed the imposition of strict powerline inspection requirements as part of the utility's criminal probation to the U.S. Court of Appeals for the 9th Circuit.
Commission ALJ Recommends PG&E Bankruptcy Approval
On April 20, the California Public Utilities Commission (CPUC) Administrative Law Judge (ALJ) Peter Allen issued a 117-page document endorsing PG&E’s new governance structure, which includes a regional restructuring that aims to establish more responsive operations after years of catastrophic wildfires and last fall's public safety power shutoff (PSPS) events. Allen’s action is another step toward ensuring PG&E can close its Chapter 11 case by the June 30 deadline mandated by AB 1054.
Bankruptcy Court Approves PG&E Settlement, Dismisses Last Minute Objections Regarding COVID-19
On April 7, U.S. Bankruptcy Judge Dennis Montali rejected an attempt by wildfire victims' attorneys to notify clients that their $13.5 billion settlement with PG&E could be devalued by a stock market impacted by COVID-19.
PG&E Reaches Deal with Governor Newsom to Emerge from Bankruptcy
On Friday, March, 20, PG&E announced it had reached a deal with California Governor Gavin Newsom and would emerge from its Chapter 11 case before the State's June 30 deadline.
Utility Bankruptcy Exit Plan to Cost $58 Billion
PG&E told the California Public Utilities Commission (CPUC) that its plan to exit bankruptcy and pay victims of fires its power lines caused would cost $57.65 billion.
Fifth District Court of Appeals Challenges Kern County’s 2015 EIR for Oil Wells
On February 25, the 5th District Court of Appeals threw out a Kern County law that allowed oil and natural gas producers to rely on the approval of a single environmental impact report (EIR) for nearly 70,000 wells, stating that the county’s law was in violation of California’s Environmental Quality Act (CEQA).
Newsom Says Takeover of Utility Still in Play
At the Public Policy Institute of California (PPIC) conference on January 29, 2020, Governor Newsom again reiterated his threat for a State takeover of PG&E if the bankrupt utility falls short in the changes he wants.
Creditors Group Offers All-Cash Deal in New Proposal to PG&E Victims
In an attempt to salvage their bid to take control of PG&E, a group of creditors led by Elliott Management Corporation (Elliott) and Pacific Investment Management Company (PIMCO) said late Friday that they would commit to addressing Governor Newsom’s concerns with PG&E, including the formation of a new board and making provisions for the option of a state takeover.
Newsom Reaffirms Opposition to PG&E Plan; Court Ignores Governor’s Views
Following his letter from last week, Governor Newsom on Monday submitted a filing before U.S. Bankruptcy Court Judge Dennis Montali in which he said that PG&E’s reorganization ignored his concerns and offered a restructuring plan that is, “more about creating an illusion of momentum,” than a true reorganization plan.
