Bankrupt Pacific Gas and Electric (PG&E) has made no decisions as to whether it will stand behind $42bn in power purchase contracts including those for more than 7.7GW of renewables capacity, California’s largest utility said in an emailed statement.
PG&E, which filed for Chapter 11 protection in January amid struggles with its potential liabilities in sparking wildfires in the state, is at odds with more than 350 “counterparties” over its ability to amend or withdraw from PPAs as part of a court-supervised reorganisation.
