Home » News » Local News » Solar Companies Scared of PG&E Bankruptcy Can Alter High Yeild Contracts!
By Jerry Henry on January 25, 2019.
There is more legal movement in the PG&E filing for bankruptcy to protect it from the massive lawsuits that have been filed against the utility who has been accused of starting major wild fires in northern California in the past three years. NextEra Energy Inc, the worlds largest wind and solar company is moving legally to protect its contracts for power supplies to PG&E. These contracts were sut many years ago when solar was very expensive to supply. Top financial experts are concerned that bankruptcy proceedings by PG&E could reset these contracts to a more current cost reality and cut profit margins that favor the supplies on earlier investment recovery standards. PG&E has filed that the Federal Energy Regulatory Commission should not act on these filings and they violate federal bankruptcy code.