But preliminary voting results show a strong majority in favor of PG&E Corp’s (PCG) restructuring plan, allowing the California utility to exit the bankruptcy it entered in January 2019. Two turbine exhaust ducts of the Pacific Gas and Electric Co. (PG&E) Colusa Generating Station in ... [+] Maxwell, California, U.S. Exit still must happen by June 30, the deadline for PG&E to join the state’s new $21 billion wildfire insurance fund. That’s not to say California utilities are popular with the public, or aren’t one false step from another safety-related crisis. But so long as companies are pushing the state’s energy transformation, there’s a potential road to recovery.

Source: Forbes May 19, 2020 14:25 UTC