PIMCO – California Globe

PG&E Settlement Passes on Wildfire Costs Increases to Ratepayers

December 24, 2019 7:33 amDecember 24, 2019 8:56 am

Fifty years ago in 1969, more than 30 million people in theNortheast suffered one of the largest power outages in U.S. history. Everything went dark. The blackout lasted 13 hours for many. The blackout spread from New York to Massachusetts,...

Gov. Gavin Newsom Rejects PG&E Settlement Offer Opening the Door to Bondholders

December 14, 2019 8:38 amDecember 16, 2019 6:43 am

California Gov. Gavin Newsom announced Friday he is rejecting a $13.5 billion settlement that Pacific Gas & Electric made just last week with wildfires victims from 2017 and 2018. Thousands of people lost homes and businesses in the Camp Fire,...

Proposed Settlements From Bondholders and Shareholders in PG&E Bankruptcy

December 9, 2019 2:10 amDecember 10, 2019 6:16 am

PG&E Corporation announced late Friday a proposed agreement to resolve all claims and pay wildfire victims of the 2018 Camp Fire in Paradise, and the October 2017 wine country fires in Northern California. The deal is expected to boost the...