California utility is reportedly considering bankruptcy after wildfires

Andy Uhler Jan 7, 2019
HTML EMBED:
COPY

California utility is reportedly considering bankruptcy after wildfires

Andy Uhler Jan 7, 2019
HTML EMBED:
COPY

California lawmakers are back in session after a holiday break, and a new governor is in place. One of the sticky issues all those folks might have to confront is what to do about the troubled utility Pacific Gas and Electric. The investor-owned utility provides gas and electricity to more than 5 million Californians. And media reports indicate PG&E is considering bankruptcy as a way to manage potentially tens of billions of dollars in liability related to recent wildfires. A taxpayer bailout is another possibility.

Click the audio player above to hear the full story.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.