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. 

Article Comments

Chico
Few Clouds
91° wxIcon
Hi: 95° Lo: 66°
Feels Like: 91°
Oroville
Clear
92° wxIcon
Hi: 95° Lo: 70°
Feels Like: 92°
Paradise
Few Clouds
91° wxIcon
Hi: 91° Lo: 66°
Feels Like: 91°
Chester
Clear
84° wxIcon
Hi: 84° Lo: 50°
Feels Like: 84°
Red Bluff
Clear
95° wxIcon
Hi: 96° Lo: 70°
Feels Like: 95°
Willows
Few Clouds
91° wxIcon
Hi: 97° Lo: 65°
Feels Like: 91°
Toasty July heat continues this week
KHSL Severe
KHSL Radar
KHSL Temperatures

Community Events