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Bankrupt PG&E Cuts Deals to Pay Less for Solar and Batteries

  • Utility asks bankruptcy judge to approve the agreements
  • Move may foreshadow what’s ahead as PG&E aims to redo deals
Investigators Blame California Utility PG&E For 2017 Wine Country Fires

Photographer: Justin Sullivan/Getty Images

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PG&E Corp., the California utility giant that went bankrupt in January amid crippling wildfire liabilities, has reached a deal with some of its power suppliers that would cut the prices it pays for their electricity.

San Francisco-based PG&E is asking a bankruptcy judge to clear deals with Canadian Solar Inc. unit Recurrent Energy and two energy-storage providers to trim contract prices by at least 10%, saving the utility about $20 million, according to a court filing. PG&E is also asking state regulators to approve the changes.