California Lawmakers Grapple With Risks and Uncertainties of PG&E’s Bankruptcy

By [email protected] Pacific Gas & Electric’s bankruptcy has become California’s most pressing policy crisis, forcing Gov. Gavin Newsom, state lawmakers, utility regulators and other key energy stakeholders to consider radical alternatives for the state’s largest utility in the face of its multibillion-dollar wildfire liabilities.

Policymakers are considering options such as breaking up PG&E’s electric and gas businesses, shifting it to a “wires-only” electricity provider, and converting it into separate publicly owned and operated entities. But no clear path forward has emerged to date, in a corporate reorganization that’s “shaping up to be one of the most complicated and challenging Chapter 11 bankruptcy

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