PG&E considering changing its name

June 27, 2019

pg&e

A group of PG&E creditors has created a $30 billion plan to bring the utility out of bankruptcy, and one of the recommendations in the proposal is that the company rebrand by changing its name. [SF Chronicle]

On Tuesday, a committee of PG&E bondholders filed a motion with the U.S. Bankruptcy Court for the Northern District of California that offers a blueprint for reorganizing the utility by the end of 2019 or shortly later. The reorganization plan primarily involves injecting $30 billion in new funds into the business.

The funds would go toward paying wildfire claims, and cleaning up financial issues related to the  fire. The funding plan aims to bring PG&E out of bankruptcy without raising customers’ rates.

Bondholders have suggested PG&E change its name after emerging from bankruptcy. The motion suggests PG&E rename itself “Golden State Power Light & Gas Co.”

Earlier this month, PG&E reached a $1 billion settlement with local governments in Northern California over wildfires the utility caused. PG&E is still expected to pay billions of dollars more in wildfire claims.


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LameCommenter

Judging by the photos from Paradise, how about “Glowing Embers Power Light and Gas Company” ? Has the same warm camp-fire-y feel and ring to it.


Ridiculous.


Paso_citizen

If this wasn’t so funny, it would almost be sad. Wonder how much the executive at PG&E

(oops – I mean GSPL$G) got as a bonus for coming up with this brainless idea?

Just change your name and hope the unsuspecting public won’t notice or care!

And I would agree with the comment on the shear cost of doing this – can anybody really believe this would not be in the millions.


I believe it should be an absolute requirement that the costs to do this be be spelled out in detail, so that all can see it..


Rambunctious

Keep the name and just get rid of all management personnel from top to bottom….


shelworth

Well, that should solve all their problems.


ShootTheMessenger

Is the name change strategy that customers will forget that poorly maintained or monitored power lines caused massive death and destruction?


And the cost will be in the millions just to rebrand every thing with new logos and paint schemes. And guess who ultimately pays for this.


MysticOne

It worked for Blackwater…. I mean Xe Services… I mean Academi.. and Philip Morris… oops, Altria. Just business as usual it seems in America. Screw up bad enough but provide a wanted service or product, just change the name and move on.


kayaknut

But if they don’t change their attitude what’s the real difference? Maybe a way to try and shield themselves from future lawsuits? “Go ahead and sue PG&E they are bankrupt, we are Golden State Power light and Gas, (wink, wink) a different company”…….


nunsense

as rose by any other name…