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PG&E, 2001 Timeline Saturday, April 21 Bookmark and Share     Author
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PG&E bonuses before bankruptcy
World News (12) USA (335) California (187) Bay Area (11) San Francisco (340) PG&E (149) 2001
Business (18) Accidents (4) Politics (1)
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PG&E Power Outage (33)   PG&E, 2001   San Francisco, 2001 (78)   San Francisco, April, 2001 (77)   U.S. in April, 2001 (50)
PG&E gets $1.2 billion tax refund  Company will hand over the money to its bankrupt utility Blackouts Are Back  Rolling blackouts affected PG&E customers in blocks 9 13 PG&E files for bankruptcy
1,000 to be Laid Off at PG&E  Move amounts to cost saving measures resulting from the company's cash shortage Rolling Blackouts Start

January 2001 ... more > Top ^
  Stoplights went dark, store owners turned to pocket calculators, students were trapped on elevators
 Gov. Gray Davis declared a state of emergency. The outages affected 400,000 customers for between 60 and 90 min. at a time. The blackouts lasted about 2 hours, ending at 1:40 p.m. PG&E defaulted on paying $76 million to holders of the a form of short-term debt

March 2001 ... more > Top ^

April 2001 ... more > Top ^
  California's largest utility voluntarily filed for Chapter 11. It had run up an $8.9 billion deficit
 Pacific Gas and Electric Co debts are increasing by $300 million a month. The bankruptcy filing does not affect the utility's parent company, PG&E Corp. It's the third-largest bankruptcy in U.S. history. PG&E has 15 days to complete its bankruptcy paperwork. The governor called the decision 'a real slap in the face to California'
  Utility awarded 6,000 bonuses and raises to mid-level managers and other employees hours before filing for Chapter 11
Apr.8 Bankruptcy timed to shift blame  PG&E insiders say the bankruptcy filing was timed to put maximum blame on Gov. Davis Apr.15 PG&E demanded no regulation  Company asks to be cut free from regulation and be allowed huge rate increases, 2 weeks before negotiations broke off Apr.26 PG&E has 10,000 creditors
  Company owes $9 billion
Apr.28 Resident received $9,700 PG&E bill  K. Long have a big house and a pool to keep warm. She was not charged for four months

May 2001 ... more > Top ^
May.2 $10 billion PG&E lawsuit dismissed  A federal judge dismissed a lawsuit in which utility sought $10 billion from California ratepayers May.3 PG&E asks court to stop ISO bills  Utility has asked bankruptcy judge to stop the power grid manager from charging for expensive last-minute electricity May.4 PG&E could sell dams  Utility may decide to sell its power-generating dams instead of power lines May.25 PG&E asks to approve bonuses  Company asks bankruptcy judge to approve $25.5 million in worker bonus and severance packages

June 2001 ... more > Top ^
Jun.15 Manhole fire causes power loss  Underground fire in knocked out power to about 13,000 PG&E customers in the Lake Merritt area

July 2001 ... more > Top ^
Jul.3 PG&E asks for more time  Company asked Bankruptcy Court for 4 more months to file a plan of reorganization

August 2001 ... more > Top ^
Aug.1 PG&E quarter profit triples
  Company earned $750 million, or $2.07 cents per share

September 2001 ... more > Top ^
Sep.20 PG&E would spin off transmission
  Under plan filed in Bankruptcy Court PG&E splits from its parent company and generates services as part of reorganization

November 2001 ... more > Top ^
Nov.5 PG&E's earnings triple
  Energy costs fall
Nov.6 Measures to replace PG&E go down
  2 measures that would allow the city to seize transmission lines and plants have been rejected Nov.17 Concern over power plant  Advocacy groups have filed an appeal over the decision to grant PG&E an unprecedented amount of pollution credits

December 2001 ... more > Top ^
Dec.2 Power Outages
  20,000 affected by weather-related outages in the Bay Area

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