PG&E Slashes $2B Spending Amid Wildfire Costs | Fresno News

PG&E is slashing $2 billion from its major spending plans, scaling back its five-year investment target from $13.4 billion to $11.4 billion by 2027 after California’s wildfire liability reforms didn’t favor utilities. Facing ongoing financial risks and a $21 billion state fund that falls short of their needs, PG&E’s CEO warns urgent policy changes are needed to protect customers and speed up energy upgrades. The company will delay or defer key projects — including new housing connections, renewable energy, and tech improvements — and has paused sharing its long-term capital and earnings forecasts. The move has already rattled investors, sending PG&E’s stock down as the utility braces for continued financial headwinds. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/810d8bd87acc99f2