Friday’s U.S. District Court decision allowing bankrupt Pacific Gas & Electric Co. to slip out from under state regulation opens up new fronts and shifts the balance of power in the protracted Chapter 11 case.
PG&E and the California Public Utilities Commission, which have each drafted competing plans for reorganizing the utility, are poised to square off in bankruptcy court confirmation hearings this November. Now, with PG&E’s hand strengthened by the district court decision, the CPUC may have to rethink its strategy.
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