- U.S. District Court Judge William Alsup decided against changing probation terms for PG&E (NYSE:PCG) related to its felony conviction in the deadly 2010 natural gas pipeline explosion that requires the company to take measures to prevent wildfires.
- At the end of a heated hearing today, the judge overseeing PG&E's probation said he would not change terms for now because he wants to first see a report the utility must submit by Feb. 6 to California’s utilities regulator on its plans for addressing wildfire risks.
- The judge chided PG&E, stressing it is a convicted felon and saying it has demonstrated a "clear-cut pattern" of starting fires.
- Earlier this month, the judge proposed terms requiring PG&E to cut back trees around power lines and turn off power lines during high winds; PG&E responded with a brief arguing it could cost as much as $150B to fully comply with the suggested scope of work.
- Now read: Methanex -6% after wide Q4 earnings miss, hurt by lower methanol prices
Original article