PG&E, The Statea s largest utility has officially filed for Bankruptcy, as of 12:01 AM today. Other PG&E Stories:
PG&E, in its continuing assessment of how to navigate the future, announced on Friday they would not renew its federal license for two hydroelectric dams in the Potter Valley Hydroelectric Project on the Eel River in Mendocino and Lake Counties. This move raised new concerns about how the California Utility will address their aging network of Hydroelectric dams in California which numbers 169. PG&E stated in a letter to the Federal Energy Regulatory Commission that declining energy markets, increased costs and the companya s financial situation, they could no longer justify further expenditures to the utilities rate payers.
The California Public Utilities Commission has protested a federal judgea s plan to impose strict wildfire-safety rules on PG&E this summer saying they believe it would cause potentially dangerous disruptions to electrical service. The PUC said U.S. District Judge William Alsupa s proposal would also interfere with multiple state agenciesa efforts to develop a wide-ranging fire-safety plan for PG&E. The PUC contends they have exclusive jurisdiction to regulate the safe and reliable operation of the electric system in California. Judge Alsup is overseeing the criminal conviction in the 2010 San Bruno pipeline explosion and has scheduled a hearing on his proposal for tomorrow, Wednesday, in US District Court in San Francisco. PG&E is facing major pressure from the state, counties, cities, customers, and insurance companies who all want to claim settlement from the utility for the disastrous wild fires that plagued Northern California in the past three years in Napa, Lake, Shasta and Butte counties.A The California insurance commissioner stated yesterday the Camp Fire losses are over 8.4 billion dollars.