PG&E CEO Criticizes California Wildfire Rules, Delays Billions in Grid Upgrades
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.