PG&E Reports $7.7B Loss in 2019, Pledges to Meet June Bankruptcy Deadline

By [email protected] Northern California utility Pacific Gas & Electric on Tuesday reported a $3.6 billion loss in the fourth quarter and a $7.7 billion loss for 2019 as a whole, weighed down by continued costs and charges related to the wildfires that drove it into bankruptcy last year.

But the company still expects that its multibillion-dollar settlements with wildfire victims and its expanded plans to improve power grid safety will allow it to emerge from bankruptcy by the end of June, a critical deadline to access the $21 billion wildfire insurance fund meant to protect it and other utilities from future wildfire-driven

Read Full Article Here

For more great articles: Greentech Media: Headlines

(Visited 3 times, 1 visits today)

Comments

comments



© 2014 RenewaNews