Pacific Gas and Electric has declared Chapter 11 bankruptcy in the face of "actual and potential" liability.
"Pacific Gas and Electric Co. and its parent company early Tuesday followed through on their plans to seek bankruptcy protection because of the mounting toll they face from the last two seasons of devastating Northern California wildfires," reports J.D. Morris.
The action by the company followed through on plans reported in the press earlier this month.
PG&E also put out a statement promising to keep the lights on (and the gas) as the company works through the Chapter 11 process.
"Experts agreed the bankruptcy filing of California’s largest utility won’t affect customers’ ability to keep their lights on," adds Morris. "But the process has potential to spur fundamental changes, such as a possible sale of the gas side of the business, as the company reorganizes. It could also eventually affect customer rates and delay or reduce the payments received by thousands of wildfire victims who have sued PG&E."
A lot more detail on next steps, expected to occur in phases over about two years, is included in the article.
Read the full story: PG&E files for bankruptcy, seeking protection from wildfire costs
California's Largest Utility Files Chapter 11 Bankruptcy
PG&E announced that it is filing for Chapter 11 bankruptcy, facing $30 billion in liability after two years of catastrophic wildfires in the state of California.
Paradise Was Prepared for the Camp Fire, Report Says. It Wasn't Enough.
Sobering findings from a thorough examination of the causes of the 2018 Camp Fire.
California Faces Costly Measures in Preparing for Future Wildfires
In California, recovery after wildfires means many upfront investments by communities and the state.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Colorado’s Largest Data Center Could Rise Next to Homes — Without a Public Hearing
The proposed campus would consume 11 times the power of Denver International Airport; as it has across the country, opposition mounts.
US to reduce Colorado River water deliveries to Mexico
A new Colorado Treaty amendment reduces Mexico’s Colorado River water allocation by 250,000 acre feet.
Judges permit Denver to divert 77,000 acre feet from the Colorado River for reservoir expansion
Overuse and climate change have caused the Colorado River’s water levels to plummet.
Amtrak, CN end decades-long dispute with eight-year agreement
The new operating agreement establishes an updated framework for the companies to work together, including processes to resolve disputes.
Raised interest rates may kill financially vulnerable construction projects
The chief economist at ConstructConnect warns that if construction project owners are negatively impacted by the raised rates, it could result in delayed payments to contractors.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
KFH Group Inc.
Greater Baltimore Committee
Eagle County Government
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello