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PG&E Agrees to More State Control If It Gets Into Trouble Again

  • Utility balks at regulator request to replace its entire board
  • PG&E needs California regulators’ approval of turnaround plan
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Photographer: David Paul Morris/Bloomberg
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PG&E Corp. said it’s open to a proposal that would let California regulators take greater control of the company if it gets into trouble again, largely conceding to one of Governor Gavin Newsom’s demands for the utility to exit bankruptcy.

PG&E said it agrees with the establishment of a six-step enforcement process proposed by California Public Utilities Commission President Marybel Batjer. The process, which could ultimately lead to the state revoking the company’s operating license, would be triggered by specific events, including operational and safety breaches, according to a filing Friday.