US-based electric utility PG&E and its subsidiary the Pacific Gas and Electric Company have announced a strategic review of the organisation's energy business structure and financing, alongside plans to defer approximately $2bn in planned investment in 2027.
The company stated that the moves are intended to help maintain essential safety investments and compliance standards while reducing near-term borrowing costs for California customers.
A newly formed Strategic Review Committee made up of four independent directors from PG&E's board will lead the review.
The committee will evaluate regulatory, financial, operational and strategic alternatives to determine the best organisation and financing structure for the company.
PG&E said the review will include consultations with regulators, policymakers and stakeholders in California and focus on achieving a financially sound, investment-grade status.
#california
The company stated that the moves are intended to help maintain essential safety investments and compliance standards while reducing near-term borrowing costs for California customers.
A newly formed Strategic Review Committee made up of four independent directors from PG&E's board will lead the review.
The committee will evaluate regulatory, financial, operational and strategic alternatives to determine the best organisation and financing structure for the company.
PG&E said the review will include consultations with regulators, policymakers and stakeholders in California and focus on achieving a financially sound, investment-grade status.
#california
2 months ago
