PG&E Assures Customers Gas And Electricity Will Stay On

Pacific, Gas, and Electric Corporation is assuring its customers the power will stay on despite its bankruptcy.

In a statement posted after it filed for Chapter Eleven this morning, PG&E says it is not going out of business and it expects no disruptions in gas or electric service. It also says it remains committed to its Community Wildfire Safety Program, which includes inspecting all equipment, clearing vegetation and installing more weather stations and cameras in high fire risk areas.

On Monday, state regulators gave PG&E permission to tap nearly six-billion-dollars in loans and credits from four different banks to continue operations during its reorganization.

PG&E Expects Billions In Capital Spending For 2019
PG&E Expects Billions In Capital Spending For 2019
Despite preparations to declare bankruptcy, Pacific Gas and Electric Company is expecting capital expenditures of $6.6 billion this year and about $6.9 billion in 2020.

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