–The California Public Utilities Commission has started a process to evaluate whether PG&E Corp.’s (PCG) Pacific Gas and Electric utility should be split up, Bloomberg News reported.
–PG&E’s stock price has been hurt amid concerns about potential liabilities from this year’s Camp Fire in Northern California. PG&E said in a statement that it acknowledged regulators’ concerns and that it needs to “re-earn” the trust of customers, Bloomberg reported.
–Citigroup analyst Praful Mehta said in a research note that the changes being considered by regulators will “only help reduce ongoing risk without destroying shareholder value,” Bloomberg reported.
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