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PG&E Corp (PCG.N)

PCG.N on New York Stock Exchange

8.20USD
23 Oct 2019
Change (% chg)

$0.10 (+1.23%)
Prev Close
$8.10
Open
$8.14
Day's High
$8.25
Day's Low
$7.97
Volume
3,036,903
Avg. Vol
1,768,506
52-wk High
$49.42
52-wk Low
$5.07

Latest Key Developments (Source: Significant Developments)

PG&E Says 98 Percent Of Customers Have Been Restored System-Wide
Saturday, 12 Oct 2019 

Oct 12 (Reuters) - PG&E Corp ::98 PERCENT OF CUSTOMERS HAVE BEEN RESTORED SYSTEM-WIDE.REPORTED FRIDAY AT 10:30 P.M. THAT 98 PERCENT OF CUSTOMERS IMPACTED BY PUBLIC SAFETY POWER SHUTOFF (PSPS) HAVE HAD THEIR POWER RESTORED.FEWER THAN 13,000 CUSTOMERS REMAIN WITHOUT POWER DUE TO PSPS.  Full Article

PG&E Provides Updates On Public Safety Power Shutoff
Thursday, 10 Oct 2019 

Oct 10 (Reuters) - PG&E Corp ::PG&E PROVIDES UPDATES ON PUBLIC SAFETY POWER SHUTOFF.SECOND PHASE OF SHUTOFFS HAS BEGUN FOR 234,000 CUSTOMERS IN SIERRA FOOTHILLS AND BAY AREA.50,000 CUSTOMERS ALREADY RESTORED FROM FIRST PHASE OF SAFETY SHUTOFFS.SAFETY INSPECTIONS IN SOME AREAS OF HUMBOLDT HAVE STARTED.POTENTIAL CUSTOMER IMPACTS IN KERN COUNTY REDUCED FROM 43,000 TO APPROXIMATELY 4,000.A THIRD PHASE OF SAFETY SHUTOFFS IS BEING CONSIDERED FOR PORTIONS OF KERN COUNTY.  Full Article

PG&E Begins To Proactively Turn Off Power For Safety To Nearly 800,000 Customers Across Northern And Central California
Wednesday, 9 Oct 2019 

Oct 9 (Reuters) - PG&E Corp ::PG&E BEGINS TO PROACTIVELY TURN OFF POWER FOR SAFETY TO NEARLY 800,000 CUSTOMERS ACROSS NORTHERN AND CENTRAL CALIFORNIA.IMPLEMENTED FIRST PHASE OF PUBLIC SAFETY POWER SHUTOFF ACROSS SIGNIFICANT PORTIONS OF SERVICE AREA IN RESPONSE TO WIDESPREAD, SEVERE WIND EVENT.THIRD PHASE OF PUBLIC SAFETY POWER SHUTOFF BEING CONSIDERED FOR SOUTHERNMOST PORTIONS OF SERVICE AREA, IMPACTING ABOUT 42,000 CUSTOMERS.SECOND PHASE OF PUBLIC SAFETY POWER SHUTOFF WILL OCCUR AROUND 12:00PM ON WEDNESDAY AFTERNOON, IMPACTING SERVICE TO ABOUT 234,000 CUSTOMERS.THE FIRST PHASE IMPACTING ABOUT 513,000 CUSTOMERS BEGINNING AT 12 A.M. WEDNESDAY MORNING.WEATHER EVENT LEADING TO POWER BEING TURNED OFF TO LAST THROUGH MIDDAY THURS., PEAK WINDS FORECASTED FROM WED. MORNING THROUGH THURS. MORNING.  Full Article

Pg&E Corp Entered Into Chapter 11 Plan Backstop Commitment Letters With Each Of Additional Backstop Parties
Tuesday, 1 Oct 2019 

Oct 1 (Reuters) - PG&E Corp ::PG&E CORP - ON SEPT. 30, ENTERED INTO CHAPTER 11 PLAN BACKSTOP COMMITMENT LETTERS WITH EACH OF ADDITIONAL BACKSTOP PARTIES.PG&E - ADDITIONAL BACKSTOP PARTIES AND ORIGINAL BACKSTOP PARTIES COMMITTED TO DEBTORS TO FUND UP TO $14 BILLION OF PROPOSED PLAN.  Full Article

PG&E Turns Off The Power For Safety To Approximately 48,200 Customers In Seven Counties In Sierra Foothills And North Bay
Wednesday, 25 Sep 2019 

Sept 25 (Reuters) - PG&E Corp ::PG&E TURNS OFF THE POWER FOR SAFETY TO APPROXIMATELY 48,200 CUSTOMERS IN SEVEN COUNTIES IN SIERRA FOOTHILLS AND NORTH BAY.PG&E CORP - PROCESS TO TURN OFF POWER WAS COMPLETED BETWEEN APPROXIMATELY 2:00 A.M. TO 4:00 A.M. WEDNESDAY MORNING..PG&E CORP - PUBLIC SAFETY POWER SHUTOFF DECISION WAS BASED ON FORECASTS OF DRY, HOT AND WINDY WEATHER INCLUDING POTENTIAL FIRE RISK.  Full Article

PG&E Executes Definitive Agreement Resolving Insurance Subrogation Claims Relating To 2017 And 2018 Wildfires
Monday, 23 Sep 2019 

Sept 23 (Reuters) - PG&E Corp ::PG&E EXECUTES DEFINITIVE AGREEMENT RESOLVING INSURANCE SUBROGATION CLAIMS RELATING TO 2017 AND 2018 WILDFIRES.PG&E CORP - PG&E REMAINS COMMITTED TO WORKING WITH INDIVIDUAL CLAIMANTS.PG&E - WILL FILE AMENDED PLAN OF REORGANIZATION REFLECTING SETTLEMENT WITH 2 OF 3 MAJOR GROUPS OF WILDFIRE CLAIMANTS AND BACKSTOP FINANCING OF $14 BILLION.PG&E CORP - "ELLIOTT MANAGEMENT CORPORATION ALTERNATIVE PROPOSAL WOULD UNJUSTLY ENRICH NOTEHOLDERS".PG&E CORP - REMAINS ON TRACK TO HAVE AMENDED PLAN OF REORGANIZATION CONFIRMED IN ADVANCE OF JUNE 30, 2020 STATUTORY DEADLINE.PG&E CORP - PG&E WILL SUBMIT A RESPONSE TO ELLIOTT PROPOSAL ON SCHEDULE SET FORTH BY BANKRUPTCY COURT..PG&E CORP - PG&E HAS RECEIVED AGGREGATE EQUITY COMMITMENTS IN EXCESS OF ITS $14 BILLION TARGET AMOUNT FROM A BROAD ARRAY OF INVESTORS.  Full Article

Statutory Representatives Of Fire Victims Reach Agreement With PG&E Bondholders On $24 Bln Trust
Friday, 20 Sep 2019 

Sept 19 (Reuters) - OFFICIAL COMMITTEE OF TORT CLAIMANTS: :STATUTORY REPRESENTATIVES OF FIRE VICTIMS REACH AGREEMENT WITH PG&E BONDHOLDERS ON $24 BILLION TRUST TO COMPENSATE VICTIMS.OFFICIAL COMMITTEE OF TORT CLAIMANTS - AGREEMENT CLEARS PATH FOR PG&E BANKRUPTCY TO BE RESOLVED BY JUNE 2020 DEADLINE.TCC - FILE JOINT MOTION WITH AD HOC BONDHOLDERS COMMITTEE TO TERMINATE PG&E’S EXCLUSIVE RIGHT TO FILE REORGANIZATION PLAN.  Full Article

PG&E Reaches Agreement In Principle To Resolve Insurance Subrogation Claims Relating To 2017 And 2018 Wildfires
Friday, 13 Sep 2019 

Sept 13 (Reuters) - PG&E Corp ::PG&E REACHES AGREEMENT IN PRINCIPLE TO RESOLVE INSURANCE SUBROGATION CLAIMS RELATING TO 2017 AND 2018 WILDFIRES.PG&E CORP - REAFFIRMED TOTAL $14 BILLION EQUITY FINANCING COMMITMENT TARGET FOR PLAN.PG&E - AMENDED PREVIOUSLY ANNOUNCED EQUITY FINANCING COMMITMENT AGREEMENTS TO ACCOMMODATE AMOUNT OF SUBROGATION CLAIMS CONTEMPLATED BY SETTLEMENT.PG&E CORP - RECEIVED RENEWED COMMITMENTS OF $1.5 BILLION UNDER REVISED EQUITY FINANCING COMMITMENTS.PG&E CORP - PROCEEDINGS REGARDING THIRD AND FINAL MAJOR GROUP OF WILDFIRE CLAIMS ARE CURRENTLY PENDING IN BOTH FEDERAL DISTRICT COURT AND STATE COURT.PG&E CORP - INTENDS TO SEEK REMAINING EQUITY FINANCING COMMITMENTS OVER NEXT SEVERAL WEEKS.PG&E CORP - EXPECTS THAT EQUITY FINANCING COMMITMENT WILL BE PART OF A MORE COMPREHENSIVE FINANCING PACKAGE TO EMERGE FROM CHAPTER 11.PG&E CORP - EXPECTS TO AMEND PLAN TO INCORPORATE TERMS OF SETTLEMENT OF SUBROGATION CLAIMS AFTER COMPLETION OF DEFINITIVE DOCUMENTATION FOR SETTLEMENT.PG&E - AGREED IN PRINCIPLE WITH ENTITIES FOR ABOUT 85% OF INSURANCE SUBROGATION CLAIMS TO $11 BILLION SETTLEMENT FOR CLAIMS RELATING TO 2017, 2018 WILDFIRES.  Full Article

Ad Hoc Subrogation Group Reaches $11 Bln Proposed Settlement With PG&E
Friday, 13 Sep 2019 

Sept 13 (Reuters) - Ad Hoc Subrogation Group::AD HOC SUBROGATION GROUP REACHES SETTLEMENT WITH PG&E.AD HOC SUBROGATION GROUP - REACHED AN $11 BILLION PROPOSED SETTLEMENT WITH PG&E.AD HOC SUBROGATION GROUP - SETTLEMENT IS SUBJECT TO DEFINITIVE DOCUMENTATION, AND APPROVAL BY BANKRUPTCY COURT OVERSEEING PG&E'S BANKRUPTCY CASE.AD HOC SUBROGATION GROUP SAYS PROPOSED SETTLEMENT WITH PG&E DOES NOT FULLY SATISFY ABOUT $20 BILLION IN GROUP MEMBERS' UNSECURED CLAIMS.  Full Article

Pg&E Wildfire Assistance Program Accepting Applications For Aid
Thursday, 15 Aug 2019 

Aug 15 (Reuters) - PG&E Corp ::PG&E CORP - BEGINNING AUGUST 15, PG&E WILDFIRE ASSISTANCE PROGRAM ACCEPTING APPLICATIONS FOR AID.PG&E CORP - $105 MILLION BEING PROVIDED FOR WILDFIRE ASSISTANCE PROGRAM WAS MADE AVAILABLE FROM COMPANY'S CASH RESERVES.PG&E CORP - PG&E WILL NOT SEEK COST RECOVERY FROM ITS CUSTOMERS.  Full Article

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PG&E says more potential power cuts could hit about 209,000 customers

PG&E Corp said on Monday about 209,000 customers could be hit by potential power cutoffs this week, less than two weeks after its most recent unprecedented shut-offs hit more than 730,000 homes and workplaces in northern California.