Daily edition | Feb. 1, 2019
Note from the editor It's not often that we see players in the power sector file for Chapter 11. Historically, regulated utilities are viewed as "steady" investments during times of economic instability.
After much anticipation, one of California's largest investor-owned utilities declared bankruptcy this week for the second time in as many decades. Pacific Gas & Electric faces tens of billions in liabilities from the record-breaking damage of the 2017 and 2018 wildfire seasons.
As developments are breaking almost at a daily rate in recent months, Utility Dive offers a timeline, tracking big shifts in the utility's stock, legislative actions, various rulings and the status of active investigations into wildfire liability.
PG&E has a scheduled hearing today with the Honorable Dennis Montali of the U.S. Bankruptcy Court Northern District of California. Actually, PG&E's first Chapter 11 proceeding was assigned to the same judge in 2001. We will track the docket, which PG&E said could last up to two years, along with legislative developments, investigations into utility wildfire liabilities and the upcoming fire seasons.
Let us know what you think — we want to make tools like this as useful as possible.
 Iulia Gheorghiu
Associate Editor, Utility Dive
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Ice formed on the plant's water intake early Thursday morning, the plant operator said, but grid operator PJM had ample generation reserves to ride through the cold weather. |
UPDATED The Democrat FERC veteran had clashed in recent years with Senate Minority Leader Chuck Schumer over electricity policy. |
Based on increasing liabilities for wildfires involving utility equipment, the company filed bankruptcy for a second time. |
How does declining demand for electricity affect the power markets?
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In its latest integrated resource plan, filed on Thursday, the company attributed the coal shutdowns to lower gas prices and the falling growth rate of energy demand. |
Present bills in Colorado, Texas, Minnesota and other states are not expected to significantly drive capital expenditures in the short term, but will be key to becoming 100% carbon free, analysts say. |
With the number of EVs on U.S. roads expected to reach 7 million by 2025, the deal could signal a wave of coming investment by large oil and gas companies to diversify, say electrification experts. |
The legislation failed 86-12 on Thursday after an amendment to drop the portion halting all state level advancement of any fossil fuel facility, pipeline, terminal or refinery failed. |
The electric utility sector faces growing threat of cyber attacks as technology and a more distributed grid increase access points, according to a new report. |
Deep Dive The company is partnering with EnergyHub and turning to artificial intelligence and machine learning to give utilities a better idea of what is happening inside homes. |
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