PG&E Spent $127 Million on Bankruptcy Costs, Fees in Two Months

PG&E Corp. spent $127 million on financing, legal and other fees in its first two months in bankruptcy.

The California power giant expects Chapter 11 costs for this year to range from $360 million to $430 million, according to a slide presentation posted online May 2. The costs for the first quarter included $114 million in financing and $24 million in “legal and other costs,” offset by $11 million in interest income.

The reported first-quarter net income that was less than half the figure from a year earlier. Net income was $136 million, or 25 cents a share, down from ...