By [email protected] Bankrupt California utility Pacific Gas & Electric won a victory Friday in the legal battle over whether it can shed billions of dollars’ worth of renewable energy contracts. But the ultimate fate of those contracts is still up for appeal.
On Friday, Judge Dennis Montali, who is overseeing PG&E’s Chapter 11 proceeding, ruled that the bankruptcy court, not the Federal Energy Regulatory Commission (FERC), has final jurisdiction over the whether the utility can cancel or amend up to $42 billion in power-purchase agreements.
PG&E, which filed for bankruptcy protection in January with a projected $30 billion in liabilities from wildfires
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