PG&E files for bankruptcy

30 April 2001

Pacific Gas & Electric (PG&E) has filed for reorganisation under Chapter 11 of the US Bankruptcy Code as its unreimbursed energy costs rose to more than $300 million a month (see NEI April 2001, p14). The Californian utility owes no monies to nuclear fuel suppliers.

Richard Meserve, chairman of the US Nuclear Regulatory Commission (NRC), has assured the governor of California that the NRC will continue to closely monitor the operations of the two nuclear power plants operated by PG&E in the state to make sure they continue to be operated with the highest regard for safety, notwithstanding the PG&E bankruptcy proceedings.

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