Although he doesn’t have the power to block PG&E’s preferred route out of bankruptcy, the Democratic governor has tremendous leverage because the company’s plan hinges on its ability to draw upon a special insurance fund California created last summer to help insulate utilities from potential wildfire losses in the future.
PG&E did not immediately respond to a request for comment.
Newsom fired his latest salvo on the eve of a scheduled hearing before U.S. Bankruptcy Judge Dennis Montali that will cover a wide range of unresolved issues in the complex case.
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