PCG - PG&E other California utilities face $22M in fines for power shutoffs

The California Public Utilities Commission said late Wednesday that it plans to fine three state utility companies more than $22M total for the "poor execution" of power shutoffs aimed at preventing wildfires in 2020, Axios reports. The CPUC proposed fining PG&E (NYSE:PCG) $12M, Southern California Edison (NYSE:EIX) $10M and San Diego Gas & Electric (NYSE:SRE) $24K, and ordered the companies to take corrective action, according to Axios. SoCal Edison (EIX) said the proposed fine is "excessive and unnecessary," as the rules governing shutoffs were still evolving "and the company has made significant improvements and progress" since the events. Separately, California Senator Diane Feinstein is calling on PG&E (PCG) to keep the Diablo Canyon nuclear power plant open, saying it is needed to help fight climate change and prevent blackouts during the transition the renewable power. California Governor Gavin Newsom recently asked the Biden administration if it can qualify for federal funds

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PG&E, other California utilities face $22M in fines for power shutoffs