PCG - PG&E could spin off minority stake in non-nuclear generation subsidiary

PG&E ( NYSE: PCG ) +1.2% post-market Wednesday after disclosing it filed an application with the California Public Utilities Commission regarding the potential separation of its non-nuclear generation assets into a standalone utility subsidiary with a separate management and board.

PG&E ( PCG ) said it will seek regulatory approval to market a stake of as much as 49.9% in a new non-nuclear generation unit called Pacific Generation.

The utility anticipates launching the sales process in next year's Q1.

Earlier this week, PG&E ( PCG ) said the U.S. Forest Service has launched a criminal probe into the company's potential role in starting California's largest wildfire this year .

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