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P-G-and-E Files for Chapter 11 Bankruptcy

Pacific Gas and Electric has officially filed for bankruptcy protection, but what that means for the utility’s immediate future isn’t exactly certain. Yesterday, the California Public Utilities Commission cleared the way for this morning’s Chapter 11 filing, by approving loans of over five-and-a-half billion dollars. Commission president Michael Picker…

Listen to Michael Picker

There were protests outside that meeting in San Francisco yesterday, with many people feeling that the company should be dissolved…

Listen to protester

KNCO was told by P-G-and-E public relations officials this morning that they are not allowed to comment at this time. A statement from Interim C-E-O John Simon in a news release reads in part, “Our most important responsibility is and must be safety, and that remains our focus. Throughout this process, we are fully committed to enhancing our wildfire safety efforts, as well as helping restoration and rebuilding efforts across the communities impacted by the devastating northern California wildfires.” P-G-and-E’s liability from wildfires in 2017 and 2018, including the Camp Fire, is in excess of 51-billion dollars. The company also has issued a link to their website for more information, pge.com/reorganization.

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