What the battle over control of PG&E means for US utility customers - Jacksonville Journal-Courier: (The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.)
Theodore J. Kury, University of Florida
(THE CONVERSATION) There's a battle raging over the ownership of PG&E Corp., one of the nation's largest utilities, with cities, hedge fund managers and even customers all in the running.
Growing liabilities linked to its role in several deadly wildfires in California forced the company to file for bankruptcy in January. It hopes to soon reemerge with a stronger balance sheet. The state's governor has threatened a government takeover if it doesn't come up with a viable plan that not only keeps the company solvent but also improves safety from wildfire.
Meanwhile, a group of creditors have submitted their own plan to take control of the utility. And dozens of mayors and county leaders are behind an effort to turn PG&E into a customer-owned cooperative, driven by anger over how the company has managed the power grid - including the use of intentional blackouts in recent months to prevent wildfires. Another round of power cuts is likely to add pressure to the embattled utility.
PG&E's troubles may be unique, but it isn't th
