PG&E takes a big step toward emerging from bankrupty as regulators OK the utility's overhaul

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PG&E takes a big step toward emerging from bankrupty as regulators OK the utility's overhaul
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A hearing on the plan continues in Bankruptcy Court. Separately, a judge calls PG&E 'a recalcitrant criminal' for resisting stricter safety measures.

There’s no guarantee a government entity would do a better job than Pacific Gas & Electric.

PG&E said this month that only three of its current 14 board members will remain after it exits bankruptcy. Chief Executive Bill Johnson will also retire June 30. PG&E argues the conditions imposed by Alsup violate the legal principle of federalism under which local governments maintain control over local affairs. The utility’s lawyer, Kevin Orsini, said the judge is required to defer to state regulators, including the Public Utilities Commission.

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