PG&E Asks CA Legislature for $20 Billion Tax-Exempt Bonds Amidst Rate Increases

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The Pacific Gas & Electric (PG&E) logo is displayed on a PG&E truck on January 17, 2019 in San Francisco, California. (Justin Sullivan/Getty Images)

PG&E CEO Bill Johnson requested California lawmakers to approve a $20 billion bond plan to address wildfire cases and its bankruptcy case, last week. Although critics are calling this plan a bailout, PG&E claims this will help wildfire victims and will be paid off by shareholders instead of ratepayers. Residential rates, however, are still likely to go up as much as $30 a month. PG&E is asking regulators to consider a variety of rate-related proposals to pay for wildfire prevention and its electric transmission system, among other areas. Forum takes a closer look at the state of PG&E’s proposed plans and the ongoing battle of who will own the beleaguered utilities company.


Mark Chediak, energy reporter, Bloomberg News