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PG&E & Newsom At Odds Over Bankruptcy Plan

SAN FRANCISCO (AP) – Attorneys for Pacific Gas & Electric are assuring a federal judge the utility will emerge from bankruptcy by a June 30 deadline as an investor-owned company. But California Gov. Gavin Newsom is also vowing to follow through on his threat to attempt a government takeover of the nation’s largest utility. The contradictory scenarios unfolded Wednesday during a PG&E court hearing in San Francisco and a Sacramento event, where the Democratic governor reiterated his staunch opposition to the utility’s current plan to climb out of its financial hole. PG&E’s bankruptcy plan hinges on support from Newsom if it wants to access money from a new state wildfire fund.