PG&E Ordered to Prove New Board is Fit to Serve
Seeking bankruptcy and scrambling to complete a $1.3 billion state-mandated wildfire prevention plan, Pacific Gas & Electric will now have to prove that its newly hired directors are fit to transform the mega-utility blamed for starting the 2018 Camp Fire in Northern California, reports Courthouse News Service.
While the new members have “impressive resumes,” said Commission president Michael Picker, it’s not clear they have the safety experience or time to manage the overhaul of a publicly traded utility facing an estimated $30 billion in wildfire liabilities.
Courthouse News Service reporter Nick Cahill writes that many state lawmakers and Gov. Gavin Newsom have been skeptical of the additions, citing the new members’ ties to Wall Street.
Read the Courthouse News article.
