PG&E comes under fire by California state officials
PG&E began proactively shutting off approximately 738,000 California customers' power on Wednesday morning.
Climate change is expected to make extreme weather more common, increasing demand for backup power sources.
The blackouts began Wednesday, hitting more than 500,000 homes and businesses north of San Francisco Bay.
The company made the move to cut the risk of wildfires that have plagued California repeatedly in recent years.
PG&E settlements are tied to deadly wildfires in California.
William Alsup, a U.S. district court judge in Northern California, is overseeing PG&E's probation after the company was convicted of safety-related violations following a natural-gas explosion that killed eight people in 2010.
A judge on Wednesday reportedly gave Pacific Gas & Electric Corp. (PG&E) the okay to launch a $105 million wildfire assistance program.
The Department of Justice is expected to "green light" the T-Mobile-Sprint merger, T-Mobile's regulatory counsel said Monday.
The Camp Fire that erupted in California last fall and ultimately became “the deadliest and most destructive” blaze in the state’s history was triggered by electrical transmission lines owned by Pacific Gas and Electricity (PG&E), officials said Wednesday.
The utility said it also expected the board to include 11 independent directors by the time of the meeting.
An investor group reportedly offered the utility giant $4 billion.
Regulators halted trading in the shares three times during Thursday's session.
Shares are popping on the news.
Tens of millions of people will lose money or face added costs.
General Counsel John Simon will replace Williams on an interim basis,
PG&E is facing lawsuits from the Camp Fire that occurred last year, as well as from a 2017 blaze.
Victims suing the utility company could be on the hook for damages.
Homeowners accuse the utility giant of negligence and blame the company for the fire.
The state’s electricity providers are under pressure amid the deadly wildfires.