Hi, today we are going to talk about Pacific Gas & Electric and its current landscape.
PG&E is poised to receive increasing attention from the market as relevant events are taking place. Early this year the company has filed for bankruptcy after been buried in processes over claims that a series of deadly wildfires on California was started by its equipment in 2017 and 2018, despite the company has reached settlements to extinguish this fire, and was starting to look ready to thrive again as the bankruptcy could bring some relief. However, now the California Governor Gavin Newsom stands on the path of the PG&E bulls, as the Governor rejected the bankruptcy reorganization proposal of the company. With this context in mind is hard to see the light for PG&E now, but if they manage to move with the bankruptcy process forward, the company might have hope to rebound.
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CA could take it over by eminent domain, but that's so costly it ain't gonna happen. What CA need to do is break the CORP/COMPANY bond somehow. CA is basically over a barrel - can't do much except whine. Unless they can change the legal structure of the company
SirCremator
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Gavin Newsom is an idiot and it's just a rumor that he stands in the way. They're a private company. This same stuff happened during the gas explosion. California RELIES on this company. Just my opinion. I'm on the BULL side. :)
SirCremator
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Also....history repeats itself. They''ll get bailed out once again.
SirCremator
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and again...just wait until automation is in more demand for charging all those electrics cars. We're going to need a serious electrical grid infrastructure overhaul.
Lawrence01
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@SirCremator, they say they have funds put aside for infrastructure upgrade but im not sure where that "new" money is going to come from, seeings how they are up to their eyeballs in legal fees and bankruptcy bailout.