P.G. And E. Has A Plan To Get Out Of Bankruptcy
California´s largest utility has asked federal regulators for permission to form three new power companies.
It´s part of Pacific Gas and Electric Company´s plan to emerge from bankruptcy. P.G and E. wants to borrow money against its power plants and energy transmission lines so it can pay its creditors.
It needs approval both from a federal bankruptcy judge and federal energy regulators for that to happen.