PG&E removes requirement for Gov. Newsom to approve plan, heads back to court today

PG&E (NYSE: PCG) has removed an amendment to its settlement deal requiring that Governor Gavin Newsom sign off on it.

PG&E announced Monday that it had reached an agreement with representatives of the victims of the Bay Area fires caused by its equipment to strike the requirement after Newsom said Friday that the power company’s proposed plan doesn’t comply with Assembly Bill 1054, a state law enacted in July. Newsom said the reorganization plan lacks “major changes in governance” and stricter…

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