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  • Los Angeles Times

    PG&E's future is in doubt after Newsom rejects bankruptcy plan

    by Taryn Luna, Los Angeles Times Dec 14, 2019 3 minutes

    SACRAMENTO, Calif. - California Gov. Gavin Newsom on Friday rejected Pacific Gas & Electric's proposal to pull itself out of bankruptcy, saying its reorganization plan falls "woefully short" of safety requirements set under state law and demanding the company make major changes if it wants to access billions of dollars in a fund to pay wildfire claims.

    The move complicates PG&E's ability to remain in control of the company in a bankruptcy process that has seen financial interests vying to take over and local politicians preparing models for an

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