Shares of PG&E Add More Than 9%

Date : 11/05/2019 @ 4:08PM
Source : Dow Jones News
Stock : Pacific Gas and Electric Company (PCG)
Quote : 13.08  0.45 (3.56%) @ 1:00AM
After Hours
Last Trade
Last $ 13.06 ▼ -0.02 (-0.15%)

Shares of PG&E Add More Than 9%

Pacific Gas and Electric (NYSE:PCG)
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3 Months : From Oct 2019 to Jan 2020

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   By Allison Prang 

Shares of PG&E Corp. (PCG) rose 9.4% Tuesday morning.

The Wall Street Journal reported earlier that more than a dozen California mayors, including those of Oakland and Sacramento, were supporting a plan to turn PG&E into a cooperative owned by customers.

The Journal's story said a group of local government leaders were planning to deliver a letter to California's governor and the state's public utilities commission advocating that this proposal be considered before California approves a plan for the company's organization under bankruptcy.

Investors and insurance companies also have revised their settlement with PG&E that determines what will happen if PG&E becomes insolvent. The settlement is part of the company's restructuring plan.

Shares of PG&E have fallen 27% in the last month and 67% year to date.


Write to Allison Prang at


(END) Dow Jones Newswires

November 05, 2019 10:53 ET (15:53 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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