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Stock Market & Financial Investment News

News Breaks
August 18, 2014
15:08 EDTPCGPG&E enters not guilty plea to obstructing San Bruno blast probe, Bloomberg says
News For PCG From The Last 14 Days
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September 16, 2014
09:25 EDTPCGOn The Fly: Pre-market Movers
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September 15, 2014
16:20 EDTPCGPG&E takes action to address Ex Parte communication issues
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September 3, 2014
18:29 EDTPCGPG&E plans to appeal $1.4B fine by CPUC
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06:16 EDTPCGPG&E overhang removed with ALJ decision, says Citigroup
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05:13 EDTPCGPG&E announces CPUC ALJ recommends $2B penalty for San Bruno explosion
Pacific Gas and Electric said that a penalty being considered by the California Public Utilities Commission, or CPUC, in connection with the 2010 explosion of a natural gas transmission pipeline in San Bruno should be reasonable and take into account precedent and the investments the company has made to promote safety. The CPUC's administrative law judges, or ALJs, released a recommended penalty resulting from the investigations. While the CPUC characterized the penalty as totaling approximately $2B, PG&E believes that the total shareholder impact could reach approximately $4.75B, including the previous $2.7B in estimated costs that shareholders have incurred or are forecast to incur, to improve and enhance the safety of PG&E's natural gas operations. The ultimate amount of costs will depend on the scope and timing of work and other factors, many of which are described in PG&E Corporation's and PG&E's recent SEC reports. It's likely that the CPUC could take a minimum of 45 days to reach a final decision.

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