State Attorney General Bill Lockyer is suing Pacific Gas and Electric Corporation, the parent of the P.G and E. utility. He´s claiming unfair business practices by the energy giant for allegedly breaching its agreement to protect California ratepayers. The suit was filed in San Francisco superior court.
It claims P.G and E. Corporation drove its own utility into bankruptcy through fraudulent and deceptive business practices. The suit seeks between 600 million and four billion dollars in penalties. Lockyer says P.G. and E. Corporation drained the assets of its California utility and put billions of dollars into unregulated affiliates.