PG&E Bankruptcy Plan Challenged by San Francisco Officials (1)

PG&E’s plan to emerge from bankruptcy will likely raise customer rates, making it ineligible for a new California wildfire-relief fund, San Francisco officials say in a regulatory filing.

• “It is clear from a close financial analysis of PG&E’s proposed plan of reorganization that PG&E is much weaker financially than the company needs to be to operate as a viable entity after bankruptcy,” San Francisco Public Utilities Commission General Manager Harlan Kelly says in statement
• San Francisco officials said in testimony to regulators that PG&E’s plan increases its debt load 65% and will raise rates
• PG&E, driven into Chapter ...