A California regulator has asked PG&E Corp for governance and oversight changes in its reorganization plan, while also proposing penalties of about $2 billion on the San-Francisco based utility for its role in causing the devastating 2017 and 2018 wildfires in California.
FILE PHOTO: PG&E works on power lines to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage/File Photo
The proposal from the regulator “will require PG&E to modify its governance structure, submit to an enhanced oversight and enforcement process if it fails to improve safety, and create local operating regions”, the California Public Utilities Commission said late on Monday. In the proposal, an earlier imposed $200 million fine on PG&E was “permanently suspended” to ensure that the fine’s payment did not reduce the funds to meet the claims of wildfire victims.
A U.S. bankruptcy judge in December approved PG&E’s $13.5 billion settlement with victims of the deadly California wildfires.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus stay-at-home order saves state taxpayers $1 billion after car crashes cut by 60%California’s stay-at-home order due to the coronavirus reduced vehicle collisions on roadways by roughly half, saving taxpayers an estimated $1 billion.
Read more »
Coronavirus: New plan would test 30 million per week and cost up to $100 billion, but 'we've got to do it'Health experts and business CEOs have said there needs to be a big increase in coronavirus testing before companies and social settings start reopening.
Read more »
R. Kelly Owes $1.88 Million to IRS, Says That Means He's No Flight RiskR. Kelly can't be a flight risk, his lawyer argues, because he owes the IRS nearly $2 million.
Read more »
Oversight of $2-trillion coronavirus relief act hasn't gotten off the groundOversight of the CARES Act was supposed to start immediately. It has barely gotten underway, leaving gaping holes in accountability as hundreds of billions of dollars are set to go out.
Read more »
Facebook removes some events calling for protests of stay-at-home ordersFacebook has removed some events planning protests against stay-at-home measures because they violated protective measures imposed by governors, Facebook says.
Read more »
Employers aren't rushing to let you tap your 401(k) amid coronavirus crisisSome businesses are still weighing whether to adopt changes that give participants easier access to their 401(k), while other plans have paused company contributions to workers' accounts.
Read more »