Court Approves PG&E's Bankruptcy Financing Package

PG and E's plan to raise funds to exit bankruptcy was approved after initially being rejected by Governor Gavin Newsom. The utility company filed for bankruptcy due to its equipment's link to California wildfires in 2017 and 2018. The approval came after investors showed interest in buying company stock. The funds are needed to pay settlements with wildfire victims, insurers, and government agencies.

What was the primary purpose of PG&E's bankruptcy financing package?

• To invest in renewable energy

• To help it get out of bankruptcy

• To raise funds for new projects

• To expand its business operations

Why did PG&E file for bankruptcy protections?

• Due to a decline in stock prices

• Because of equipment linked to wildfires

• To merge with another company

• To avoid paying taxes

Which years were the wildfires linked to PG&E's equipment?

• 2015 and 2016

• 2016 and 2017

• 2018 and 2019

• 2017 and 2018

What changed Governor Gavin Newsom's stance on PG&E's plan?

• A decrease in wildfire incidents

• Pressure from the public

• Investor interest in company stock

• A new environmental policy

What is the primary use of the funds PG&E is raising?

• To build new power plants

• To invest in solar energy

• To reduce electricity rates

• To pay off settlements with wildfire victims