KGO’s Pat Thurston asked me about the Kincade Fire, the Camp Fire, the North Bay Fires, the PG&E Bankruptcy, the CPUC, and more. We took calls and she asked me to stay for a second hour.
KRON4’s Sanaz Tahernia asks me how we got into this situation, how long will it last, and what can be done about it. (14 minutes.)
What’s today’s “motion for relief from stay” all about?
The dispute about PG&E’s total liabilities.
When it filed bankruptcy, PG&E said its liabilities as a result of the 2017 and 2018 wildfires totaled at least $30 billion. Yet, PG&E now proposes to resolve all wildfire claims by funding a trust for wildfire claimants of substantially…
PG&E now accepts responsibility for the Camp Fire. PG&E says that it wants to pay claimants for what they’ve been through, and that it wants to set aside $14 billion for that purpose. But here’s the catch: in order to be paid, victims must file papers with the bankruptcy court by October 21. If you…
Having paid to shareholders money it was supposed to use on wildfire remediation and prevention, PG&E now says it can’t get the work done unless it raises rates. The CPUC is going to let them.
PG&E argued it couldn’t comply with the laws because there were just too many trees, too close to its wires. The judge replied, “That’s a problem of your own making.”
Scott Deveau and Mark Chediak of Bloomberg report that PG&E is likely to sign Bill Johnson as its new CEO. Bill Johnson was most recently CEO of the Tennessee Valley Authority, the large southeastern public utility. Critics are glad Johnson is now gone from the TVA because, they say, he consistently favored corporate interests over…
New documents show that PG&E knew in 2016 that Caribou-Palermo equipment was close to failure, but decided not to fix it, hoping that the rain would put out any resulting fire. Two years later the equipment caused the Camp Fire.
PG&E has asked the bankruptcy judge to approve an employee bonus program that rewards employees more for boosting PG&E’s bottom line that for making the electrical safe. We object.