PG&E's Bankruptcy: A Bad Sign for American Utilities
The difficulties facing Pacific Gas & Electric (NYSE: PCG) continue to mount. After nearly a year in bankruptcy court, the once-strong utility serving half of the state of California is facing challenges like it's never faced before.
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PG&E is suffering from crises on all fronts. After a series of bad wildfires in 2017 and 2018, the company filed for bankruptcy in January 2019. It has a balance sheet riddled with debt, it is far behind in payments for infrastructure and upkeep, and yet another major wildfire season will likely only make things worse.
Source Fool.com