California Regulators Seek Penalty Hike For PG&E

California Regulators Seek Penalty Hike For PG&E

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Interactive Video

Social Studies

University

Hard

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The company faces a proposed penalty increase from $1.7 billion to $2.1 billion for its role in causing wildfires in 2017 and 2018. This proposal by a Public Utilities Commission judge comes after consumer groups deemed the initial penalty too lenient. The increase includes a $200 million payment to California's General Fund. The company expressed disappointment but acknowledged its duty to operate safely. This penalty hike adds to the company's financial issues, including a recent bankruptcy filing and efforts to join a state wildfire insurance fund.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the original penalty amount proposed for the company's role in the wildfires?

$1.5 billion

$1.7 billion

$2.0 billion

$2.1 billion

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why was the penalty amount increased from the initial proposal?

To match inflation rates

Because of new evidence

In response to consumer group complaints

Due to a court order

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What additional payment is included in the proposed penalty increase?

$400 million to the General Fund

$300 million to the General Fund

$200 million to the General Fund

$100 million to the General Fund

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How did the company react to the proposed penalty increase?

They decided to appeal

They were disappointed but acknowledged their safety obligations

They were indifferent

They were pleased

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What financial challenge is the company currently facing?

A drop in stock prices

A merger with another company

Filing for bankruptcy protection

A lawsuit from the government

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