SAN FRANCISCO — A U.S. judge berated Pacific Gas & Electric Corp. on Wednesday, accusing the nation's largest utility of enriching shareholders instead of clearing trees that can fall on its power lines and start fires and making "excuses" to avoid turning off electricity when fire risk is high. Judge...
Will PG&E Customers Pay More in Bankruptcy? Not if Watchdog Can Stop It
The consumer watchdog arm of the California Public Utilities Commission says millions of Pacific Gas & Electric customers should not have to bear the brunt of the utility’s misdeeds if it was responsible for two of the most destructive wildfires in California. “We should definitely not assume that because PG&E...
PG&E Credit Rating Slashed to Junk Status by S&P
NEW YORK — S&P slashed PG&E's credit rating to junk status as the utility grapples with the political and financial fallout from costly and deadly wildfires in California. The ratings agency cut the company's key rate five notches to "B'' from "BBB-." Shares have been weighed down since November and...