Climate Changed
PG&E’s Plan to Cap Fire Liabilities at $18 Billion Draws Ire
- Court filing is first draft of utility’s reorganization plan
- Plan calls for mix of debt, equity to cover PG&E’s liabilities
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California utility giant PG&E Corp. has issued its long-awaited plan for emerging from the largest utility bankruptcy in U.S. history: Raise debt, offer equity and cap wildfire liabilities that led to its collapse at $18 billion -- less than half of what victims and insurers want.
The plan has already sparked opposition.