California’s PG&E blasted over ‘greed and neglect’
Its shares plunged after the utility was stripped of control over its bankruptcy process with plans from wildfire victims allowed to be mooted
San Francisco — Faced with mounting public anger over massive blackouts, California governor Gavin Newsom blamed Pacific Gas and Electric (PG&E) for years of “greed and neglect” and demanded major structural changes at the bankrupt utility.
Newsom’s comments came as many Californians questioned whether PG&E overreacted to a windstorm that did not prove as powerful as forecast. The company cut electricity to more than 2-million people — the largest pre-emptive blackout in the state’s history — to prevent its power lines from sparking wildfires...