“No more business as usual for PG&E,” said Governor Newsom. “As we head into wildfire season amid a pandemic, Californians need to have confidence that their utility is focused on customer safety – preventing wildfire sparks and making critical safety upgrades. SB 350 marks a critical step in the transformation of PG&E into a utility that is accountable to those it serves – the people of California. I would like to recognize and thank the Legislature for taking action on this important legislation.”
SB 350, by Senator Jerry Hill (D-San Mateo), is being signed one day before PG&E is expected to conclude the bankruptcy case it filed in January 2019. The state won key victories in the company’s reorganization plan as a result of its intervention. These included sweeping governance and operational reforms, including a newly constituted board of directors, and billions of additional benefits to ratepayers, victims and the people of California. The state’s involvement also ensured that the company emerged from bankruptcy in a position to make massive upgrades necessary to deliver safe, reliable, clean electricity, and to swiftly compensate victims.
The California Public Utilities Commission approved PG&E’s bankruptcy plan on May 28 in a decision that placed enforceable requirements on PG&E to meet the mandates of AB 1054.
The Governor today also announced that he has signed the following bill:- SB 300 by Senator Thomas Umberg (D-Santa Ana) – Elections: ballot measures.
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