PG&E CEO Criticizes California Wildfire Rules, Delays Billions in Grid Upgrades
TL;DR Summary
PG&E plans to defer about $2 billion of 2027 investments after President/CEO Patti Poppe blasted California’s wildfire-liability rules as making financing riskier and more expensive, calling the system “straight up extortion.” The utility still aims to invest roughly $11.4 billion in California next year and is pursuing a strategic restructuring to strengthen finances and affordability as lawmakers debated, then rejected, a broader wildfire-liability deal.
- PG&E boss has meltdown at state over wildfire fiasco, delays billions in work: ‘Straight up extortion’ New York Post
- Why a signature Newsom power move flopped in the last days of the Legislative session CalMatters
- In Surprise Twist, California Lawmakers Fail to Pass Watered-Down Wildfire Bill wsj.com
- PG&E to scale back spending following failure of wildfire liability bill The Mercury News
- Deal on California Wildfire Liability Collapses in Legislature KQED
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