PG&E; Loses Bid to Avoid PUC Probe
From Bloomberg News
PG&E; Corp., owner of California’s largest utility, lost a bid to avoid a state investigation into whether it siphoned billions of dollars from its Pacific Gas & Electric utility before the unit filed for bankruptcy protection in April 2001.
A California appeals court refused to dismiss PG&E; and other utility owners from an investigation by the Public Utilities Commission into actions they took during the energy crisis of 2000 and 2001. PG&E; argued that the commission had authority only over utilities, not over their parent companies.
From Bloomberg News
