PG&E Defers $2B in Spending as California Wildfire Liability Stalemate Deepens
PG&E has deferred approximately $2 billion in planned 2027 investments, citing the failure of California lawmakers to pass a wildfire liability reform bill. CEO Patti Poppe stated that the current legal framework makes financing grid upgrades prohibitively expensive, while critics and politicians condemned the move as extortion and a 'capital strike.'