Published : Tuesday, January 29, 2019 | 6:41 AM
Assemblymember Chris Holden reacted Tuesday morning to Pacific Gas & Electric’s decision last night to file for Chapter 11 bankruptcy by saying he will work to protect the interests of fire victims while meeting ratepayer’s needs for safe and affordable electricity.
“It was always my hope to see PG&E not find itself in a position where they would file for bankruptcy as the impacts to fire victims and ratepayers may be severe,” Holden said in a statement.
“Our goal all along was to protect the most vulnerable, but now the bankruptcy court will be managing the future of PG&E and its creditors, including the damages of fire victims for which the utility is deemed responsible.”
PG&E faces a potential liability of up to $30 billion for recent Northern California wildfires.
“We must continue to address fire threats in the state as well as the safety of the utility infrastructure to protect the public and avoid this situation in the future,” Holden said.
He said he will continue to work with other legislators and the Governor to consider all the options that protect the interests of fire victims and meet ratepayer expectations for safe, affordable, reliable power which also maintains California’s environmental goals.
“We will help to provide direction to the Public Utilities Commission who will be representing Californian’s interests in the bankruptcy proceeding,” Holden promised.