New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 2, 2014
05:11 EDTPCGPG&E announces criminal charges filed regarding 2010 San Bruno pipeline accident
PG&E and its subsidiary, Pacific Gas and Electric Company, pledged to stay focused on building the safest and most reliable natural gas system in the country despite what it expects will be a lengthy legal process to demonstrate that federal criminal charges filed today have no merit. The charges were filed by the U.S. Attorney's Office in San Francisco in connection with the 2010 San Bruno natural gas transmission pipeline accident. The charges allege that PG&E's past operating practices violated the federal Pipeline Safety Act in areas such as record keeping, pipeline integrity management and identification of pipeline threats. PG&E Chairman and CEO Tony Earley, who was brought in to lead PG&E in 2011 after the San Bruno accident, said: "San Bruno was a tragic accident. We've taken accountability and are deeply sorry. We have worked hard to do the right thing for victims, their families and the community, and we will continue to do so. We want all of our customers and their families to know that nothing will distract us from our mission of transforming this 100-plus-year-old system into the safest and most reliable natural gas system in the country." PG&E believes that its employees did not intentionally violate the federal Pipeline Safety Act, and that even where mistakes were made, employees were acting in good faith to provide customers with safe, reliable and affordable energy.
News For PCG From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 27, 2015
18:49 EDTPCGCalifornia Utilities Commission investigates PG&E safety practices
The California Public Utilities Commission began a formal investigation Thursday into whether Pacific Gas and Electric has corporate governance, clearly documented organizational goals and objectives, and work procedures that "prioritize and improve safety." CPUC President Michael Picker commented, "A public utility's track record of safely operating its system is dependent on more than messages and slogans. An effective safety culture is shaped by... most of all, the accountability set by the top leadership." The CPUC will evaluate PG&E's organizational culture, governance, policies, practices, and accountability metrics in relation to its record of operations, including its record of safety incidents. The CPUC will analyze the methods used by PG&E's board of directors and executive leadership to hold themselves and management accountable for their decisions and actions, including executive compensation policies. "PG&E has invested in safety improvements, added new board members with safety experience, and reorganized to prioritize gas operations safety. But accidents and events affecting the safety of the general public, its customers, and others continue to occur on PG&E's system, prompting the CPUC to take a deeper look." The CPUC's safety and enforcement division will retain the services of an independent expert consultant with experience in auditing corporate governance and accountability, not to exceed $2M. PG&E will reimburse the CPUC for the consultant services, said the Commission. Reference Link
August 19, 2015
16:47 EDTPCGPG&E names Melissa Lavinson as Chief Sustainability Officer
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use