Sacramento Bee-
PG&E Corp. and Gov. Gavin Newsom have made a deal on overhauling PG&E’s operations, removing one of the last remaining obstacles to the utility’s efforts to exit bankruptcy. Newsom’s office announced Friday that PG&E will commit billions of dollars in additional spending to prevent wildfires, meeting one of his critical demands.
In a filing in U.S. Bankruptcy Court, PG&E also agreed to a process that could have the entire company put up for sale if it doesn’t pull out of bankruptcy by June 30, a deadline set by the Legislature.
“This is the end of business as usual for PG&E,” the governor said in a prepared statement. “We secured a totally transformed board and leadership structure for the company, real accountability tools to ensure safety and reliability and billions more in contributions from shareholders to ensure safety upgrades are achieved.”
The California Right 