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PG&E reportedly considering bankruptcy or sale of gas unit

Staff Writer | January 5, 2019
The parent company of Pacific Gas and Electric Co. may be considering a bankruptcy filing or a sale of its natural gas business, amid extreme financial and public pressure due to California wildfires.
Pacific Gas and Electric
America   Pacific Gas and Electric
National Public Radio reported Friday that PG&E Corp. is envisioning a sale this spring of its natural gas division. The move could help pay for liabilities from wildfires that have put the utility’s future in doubt and prompted regulators and lawmakers to consider whether the company should be restructured.

PG&E’s gas operations have had their own problems unrelated to wildfires. The 2010 San Bruno pipeline explosion and its aftermath led to the utility’s criminal conviction on obstruction and other charges, and in more recent allegations, regulators have accused the utility of falsifying gas-safety records for years afterward.


 

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