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PG&E Gearing Up for Possible Bankruptcy, CA Lawmakers Say

California lawmakers say that Pacific Gas and Electric Company is discussing a possible bankruptcy, due to the massive amount of lawsuits on their hands.

Posted: Jun 16, 2018 10:59 AM

SACRAMENTO, Calif. - California lawmakers say that Pacific Gas and Electric Company is discussing a possible bankruptcy, due to the massive amount of lawsuits on their hands.

Two weeks ago Cal Fire blamed PG&E for starting more than a dozen wildfires in Northern California last year.

Now, state lawmakers say that the company is worried about the ordeal, but there has not been a public comment about the situation from PG&E itself.

PG&E claims the state’s liability structure, which is forcing an investor-owned utility to pay, puts California investors in jeopardy.

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