Western Energy News

PG&E to pay $13.5 billion settlement over wildfires

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CALIFORNIA: PG&E confirms a $13.5 billion settlement with victims of California wildfires ignited by its power lines, but says it will not admit fault for two of the fires. (New York Times, San Francisco Chronicle)

ALSO:
• Wildfire victims are raising concerns about the stock option component of the settlement. (KGO-TV)
PG&E’s settlement could threaten the restructuring plan of bondholders facing a court battle with PG&E over $2 billion in debt payments. (Wall Street Journal, subscription)
A new analysis reveals how California utility regulators failed to stop PGE’s wildfire crisis by prioritizing rates and green power. (Wall Street Journal, subscription)
PG&E releases a photo of the broken “C-hook” believed to have caused the destructive Camp Fire in 2018, the deadliest in California history. (Fresno Bee)

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OIL & GAS:
• A judge deals a setback to a Colorado group’s effort to revive a city’s fracking ban on grounds that a state law change should allow it. (Longmont Times-Call)
Alaska’s Department of Revenue decreases its oil revenue forecast by $200 million, in the wake of prices and production running below spring expectations. (Anchorage Daily News)
A new analysis explores the difficulties fossil fuel companies face as the climate crisis grows. (GreenBiz)
A new study of Colorado house sales between 2006 to 2014 indicates those near oil wells face lower values. (Denver Post)

CLIMATE:
Southern California is warming at a rate faster than the rest of the U.S., and has already exceeded the threshold set by the 2015 Paris Accord. (Washington Post)
• Alaska economists say the state is set to lose hundreds of millions of dollars annually from climate change. (Anchorage Daily News)

SOLAR:
Some analysts warn that diminishing federal tax credits could deal a setback to the economics of solar-plus-storage projects. (E&E News Daily, subscription)
• A California solar firm, a Utah solar project and a Hawaii utility are recognized in Utility Dive’s innovation awards

ELECTRIFICATION: A new analysis explores how the City of Sacramento, California aims to electrify all homes without leaving disadvantaged households behind. (Greentech Media)

CLEAN ENERGY: A Port of Los Angeles official says high energy costs will make it difficult to maintain the region’s competitiveness as ports pursue clean energy goals. (FreightWaves)

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ACTIVISM: A Spokane, Washington high school student organizes a “die-in” protest and Utah youth gather at the state’s Capitol to raise awareness of the perils of climate change. (Spokesman-Review, Deseret News)

COMMENTARY:
Two California climate advocates say microgrids are imperative in combating structural problems with energy generation and distribution systems. (Press Democrat)
An Alaska-based climate advocate says the state’s hottest, smokiest, summer ever and unusually warm fall are climate change wake-up calls. (Anchorage Daily News)

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