California Regulators Seek Penalty Hike For PG&E

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.

What was the proposed increase in the penalty for the company involved in the wildfires?

What was the initial penalty amount before the proposed increase?

What is the purpose of the $200 million payment included in the proposed penalty increase?

What was the reaction of the company officials regarding the proposed penalty hike?

What financial difficulties has the company faced recently?