- PG&E CEO Patti Poppe said California lawmakers can still revive wildfire liability reform after the failed proposal drove PG&E and Edison International shares down 20% and 21%, respectively, this week.
- PG&E cut its 2027 capital spending plan by $2 billion to $11.4 billion, delaying housing starts and renewable-energy projects in California.
- PG&E said unresolved wildfire liability risk raises financing costs and complicates its effort to regain an investment-grade credit rating.
Quotes
“We really are hopeful that they'll be able to find their way to get back to the table and finish the job for our customers”
“The people of California are waiting.”
“Sacramento shouldn't settle when wildfire survivors lost everything.”
“If investors and banks see the risk too high, they charge more, or they don't enter the stock at all”