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PG&E State Review Puts Board Shuffle and Breakup on the Table

  • Probe will target PG&E operations, structure and governance
  • Board lacks ‘strong message of accountability,’ regulator says
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Market Punishes PG&E Amid Wildfire Liability Concerns
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California’s top utility regulator singled out PG&E Corp.’s board as an impediment to reform and isn’t ruling out carving up the company as officials launch a deep corporate review in the wake of the state’s deadliest wildfire.

“It’s hard to know from outside how far down the structural changes need to go,” California Public Utilities Commission President Michael Picker said in an interview Friday. Authorities are investigating PG&E equipment as a possible cause of the deadly blaze in the Sierra Nevada foothills of Northern California.