California utility PG&E's credit rating lowered to junk as it faces billions in wildfire claims

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A Moody's downgrade cited challenges for the power company as it faces potentially big liabilities related to wildfires.

 

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Good. I hope they go bankrupt. PG&E is a pest and I'm honestly surprised the California government hasn't (yet) forced them out of business; an action similar to what New York State did to LIPA after Hurricane Sandy, transferring Long Island service to PSEG.

Any bailout should include a substantial increase in solar buyback rates. GavinNewsom ilike_mike

these costs should be offset by lottery funds! that was they said to everyone when they were trying to push it through!

Does that mean my bill will skyrocket again?

This isn’t good

GavinNewsom is there structure in place to avoid a utility crisis here? Do you know where we will get our gas and power should it be necessary?

Ruh roh

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