PG&E Approved for $1.5 Billion Loan

PG&E is approved for a $1.5 billion dollar loan to continue operations for the first four weeks of bankruptcy proceedings.

Posted: Feb 1, 2019 3:28 PM
Updated: Feb 1, 2019 3:44 PM

PG&E is approved for a $1.5 billion dollar loan to continue operations for the first four weeks of bankruptcy proceedings.

A federal bankruptcy judge approved the loan on Thursday.

An attorney for the company says the utility wants to establish a trust fund for fire victims.

PG&E's bankruptcy filing Tuesday listed roughly $71 billion in assets and $51 billion in debt. That does not include the tens of billions of dollars in potential liability for the northern California wildfires in the area. 

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A modest drop in temperatures, increasing clouds and the threat of thunderstorms are all ahead in your Friday forecast. The threat of thunderstorms over very dry fuels is resulting in high fire danger in portions of northern California Friday and Saturday. Some welcome changes are ahead in your extended forecast.
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