“Rate neutral framework”, whatever that is, promised as PG&E offers plan to pay wildfire costs and get out of bankruptcy
PG&E filed its plan for coming out of bankruptcy with the federal judge handling the case yesterday. The company proposes to give $8.4 billion to those harmed by wildfires over the past four years, both individual and public agencies, another $8.5 billion to insurance companies that have already paid out claims resulting from those fires, as well as a previously agreed $1 billion to a group of northern California public agencies.
In a press release, PG&E’s CEO, Bill Johnson, was quoted as saying the reorganisation plan is a “rate neutral framework”, but didn’t elaborate.… More