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In a surprise compromise designed to ensure its exit from Chapter 11 bankruptcy early next year, Pacific Gas & Electric Co. has agreed to key modifications to its reorganization plan. The company filed comments with state regulators late Monday, revising the financial mechanism by which it intends to restructure its $12 billion in debts. According to the joint filing by PG&E and The Utility Reform Network, a non-profit consumer advocacy group, the compromise could save ratepayers up to $1 billion.
December 17, 2003 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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