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.)
New York Times Highlights How PG&E’s Bankruptcy Strategy Will Reward Shareholders and Shortchange Fire Victims Who Don’t Act
I told the New York Times that PG&E filed bankruptcy not because it needed to but because it wanted to “use the bankruptcy rules to their benefit to limit their liability to victims.” And they have it as front page news today.
But it was back in January I told KRON4 the same thing. I
PG&E Bankruptcy: Understanding the Wildfire Survivors’ Motion for “Relief from Stay”
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
Deadline for PG&E Fire Survivors
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
PG&E Chief Can’t Explain Why PG&E Paid $2.5 million Bonus to Fired CEO But Stiffed Butte Victims
PG&E Chief Financial Officer Jason Wells appeared in Bankruptcy Court to answer questions under oath. It was his second time. The first time, I asked him about the bonus PG&E paid to CEO Geisha Williams as she was shown
PG&E Raises Rates On Victims
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.
Judge Orders Convicted Felon PG&E To Comply With Tree Trimming Laws
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.”
PG&E’s New CEO William Johnson Is All About Profits
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
PG&E Knew That Equipment That Caused Camp Fire Was Close to Failure But Decided Not to Repair and Instead Hope for Rain
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’s Proposed Bonus Program Prioritizes Profits Over Safety
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.
