PGE Defers Two Billion in Spending
California utility PGE announced it will defer two billion dollars in spending and launch a review. The decision follows a state Senate bill amendment that raised wildfire liability concerns.
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P G & E CORP will defer $2 billion in spending and launch a strategic review after an amended United States state Senate bill raised wildfire liability concerns. The spending cuts reduce the utility's 2027 plan to $11.4 billion from $13.4 billion. The shift follows a 20% drop in shares on Monday after lawmakers advanced a bill that left exposure to wildfire costs unresolved.
