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PG&E Corp will consider separating some of its assets as part of a strategic review launched after California lawmakers failed to reach a deal limiting utilities’ wildfire liability, according to Chief Executive Officer Patti Poppe.
PG&E CEO Patti Poppe joins Bloomberg Open Interest to warn that without fast wildfire liability reform, Californians will face slower housing growth, delayed clean energy and AI power, and higher long-term costs as customers, not insurers, shoulder catastrophic wildfire risk.
PG&E Corp. plans to defer about $2 billion of work next year as part of a strategic review of its businesses. This decision follows the company's statement that a proposed revamp of California’s wildfire response didn’t do enough to protect it and its peers from the cost of such disasters.
The California Assembly plans to adjourn without passing a major overhaul of the state’s wildfire response. This decision comes a day after news of a legislative agreement sparked the biggest rout in years for shares in two key power utilities, PG&E Corp. and Edison International.
Bonds of PG&E Corp. and Edison International broadly weakened on Monday after California lawmakers rebuffed a key provision of Governor Gavin Newsom’s plan to shift wildfire liabilities from the state’s utilities.
Shares of PG&E Corp., Edison International and Sempra plunged Monday after unfavorable California wildfire legislation prompted a wave of analyst downgrades.
PG&E Corp. reported a 7.6-gigawatt increase in its data center pipeline during the second quarter as the artificial intelligence build-out gains momentum.
PG&E Corp. warned that power shutoffs will be required on Wednesday and Thursday in 10 California counties as dry conditions and gusty winds increase fire risks.
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This former PG&E engineer is building a ‘Google Maps for the underground'