PG&E has sent voting materials to approximately 250,000 parties entitled to vote on the company’s Chapter 11 Plan of Reorganization (the "Plan"). PG&E’s Plan sets forth how the company will satisfy its pre-Chapter 11 obligations to creditors and other stakeholders. Eligible voting parties include fire claimants, certain holders of prepetition funded debt and other impaired creditors, and shareholders.
All ballots must be received by Prime Clerk, PG&E's court-appointed claims agent, by May 15, 2020, at 4 p.m. Pacific Time to be counted.
For more information and details on the voting process, materials and submitting ballots, please read the news release and a list of frequently asked questions (PDF, 159 KB). For specific fire-claimant questions, please read this list of frequently asked questions (PDF, 189 KB).
PG&E is on track to get its Chapter 11 Plan of Reorganization approved by the Bankruptcy Court by the June 30, 2020, deadline to participate in the state’s new go-forward wildfire fund.
As part of the Chapter 11 process, PG&E previously reached settlements valued at approximately $25.5 billion with all wildfire victims' groups including individual victims, subrogation claimants, and public entities to be implemented pursuant to PG&E's Plan of Reorganization.
As of March 20, 2020, PG&E made a series of new commitments regarding its governance, operations, and financial structure, all designed to further prioritize safety and expedite the company's successful emergence from Chapter 11.
The Bar Date was the deadline for individuals and entities to file a claim for amounts they believe are owed to them by PG&E for the period before PG&E's Chapter 11 filing on January 29, 2019.
Please note that the Bar Dates for all claims have now passed. The extended Bar Date for persons or entities that purchased or acquired PG&E’s publicly traded debt or equity securities from April 29, 2015, through November 15, 2018 and who may have claims against PG&E for rescission of or damages arising from, a purchase or sale of such publicly traded debt and equity securities, was April 16, 2020, at midnight. The extended Bar Date for unfiled non-governmental fire claims was December 31, 2019 at 5 p.m. (Pacific Time). The Bar Date for all other claims was October 21, 2019 at 5 p.m. (Pacific Time).
On January 29, 2019, PG&E moved forward with its previously announced plan to file for Chapter 11.
We are continuing to provide safe and reliable electric and natural gas service. We are not "going out of business," and we expect that there will be no disruption to the services you expect from us as a result of the Chapter 11 process.
Our extensive restoration and rebuilding efforts to help communities recover from the devastating wildfires are continuing. We are committed to these efforts and safety remains our most important responsibility.
PG&E is also working to further reduce the risk of wildfire through our Community Wildfire Safety Program, including the following actions:
We are continuing to provide safe and reliable electric and natural gas service to our customers as normal. That will not change as a result of this process.
You can find additional information about what this process means for customers in the open letter to customers from PG&E Corporation Interim CEO, John Simon, and in the other resources below, including the frequently asked questions.
A letter to our customers:
January 29, 2019
To Our Customers,
Today, we moved forward with our previously announced plan to file for Chapter 11. We did not make this decision lightly, as we understand that millions of our customers rely on us and will have questions.
We want to make sure you understand what this means for you, what you can expect going forward, and what we are doing to continue to safely serve you and your energy needs.
Here are the most important things you need to know about this process:
Safety must and will come first: Throughout this process, we will continue to prioritize safety, and the necessary steps and actions that must be taken to make the energy system you depend on safer.
The power and gas will stay on: We will continue to provide you with reliable electric and natural gas service, and that will not change as a result of this process. To be very clear, we are not "going out of business," and there will be no disruption in the services you expect from us.
Helping communities recover and rebuild: We will continue to assist communities affected by the devastating Northern California wildfires. Our extensive restoration and rebuilding efforts will continue.
Working together on solutions: As we move forward, we intend to work collaboratively and maintain a dialogue with our customers and communities, as well as civic leaders, regulators, policymakers and other parties. Throughout this process, we will continue to prioritize those actions and steps required to ensure safety and reliability - as well as those that will make the energy system safer and more reliable now and in the future.
Over the coming weeks and months, we will continue to provide you with updates as we move through this process. You can also find additional information at pge.com/reorganization.
Finally, we recognize that we have a lot of work ahead to re-earn your trust. We have heard the loud calls that we must change, and we are determined to do so.
Please know that all of our 24,000 employees are committed to doing everything possible to make our system safer and more reliable, and to providing all 16 million people we serve with the energy system they want and deserve.
Thank you for your continued support.
John R. Simon
Interim CEO, PG&E Corporation
PG&E values its relationships with our suppliers. We know you may have questions about the Chapter 11 process. Below, you can find a letter to suppliers and frequently asked questions. If you have additional questions, please reach out to your usual sourcing contact.
A letter to our suppliers:
To Our Valued Supplier Partner,
We value our relationship with you and the important role you play in our ability to serve our customers safely.
On January 29, 2019, PG&E took the expected next step and filed for reorganization under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of California.
Here are the most important things you need to know right now about this process:
Please know that the Bankruptcy Code does not permit payment for goods and services received prior to the filing date except in very limited circumstances that must be authorized by an order of the Bankruptcy Court. Any claims for such goods and services will be addressed in the Chapter 11 case. We sincerely regret any hardship this may cause.
We are committed to being transparent and to working closely with you throughout this process, and we will continue to keep you informed as we move forward. If you have questions, please reach out to your usual sourcing contact or email our dedicated supplier outreach address at SupplierInquiries@pge.com.
Additional information is available at PG&E's restructuring website at pge.com/reorganization, by calling our Restructuring Hotline at 1-844-339-4217 (for calls originating outside of the U.S. please dial 929-333-8977) or by emailing firstname.lastname@example.org. Court filings and other documents related to the court-supervised process are available on a separate website administered by our claims agent, at https://restructuring.primeclerk.com/pge.
Thank you for your continued support, and we look forward to continuing to work closely with you as we work through this process.
Pacific Gas and Electric Company (PG&E)
We appreciate the service that you provided during your tenure at PG&E. We know you may have questions about the Chapter 11 process. Below, you can find a letter and frequently asked questions for retirees.
A letter to retirees:
Dear PG&E Retiree,
All of us at PG&E deeply value your contributions to our company, and I wanted to share some important news.
We are reaching out to let you know that PG&E has taken the next step in its reorganization process. On January 29, we filed for Chapter 11 under the Bankruptcy Code.
We want to make sure you understand what this means for you, what you can expect going forward, and what we are doing to continue serving you safely and reliably. Here are the most important things you need to know about this process right now:
For those of you with a cash balance Plan benefit, as of January 29, 2019, the Plan is not legally permitted to offer a lump sum payment option for a participant or beneficiary whose benefit is worth more than $5,000. You are still eligible to receive the Plan benefit, and there are no restrictions on payment in the form of a life annuity, a joint pension, or a marital pension.
We will continue to provide updates as we move through this process. As always, to the extent changes are contemplated or required that might impact you or your benefits, we intend to notify you in a timely manner. If you have questions, you can find FAQs and additional information on our website at www.pge.com/reorganization.
As always, we value the service that you provided during your tenure at PG&E.
John R. Simon
Interim CEO, PG&E Corporation
Case Information: Court filings and other documents related to the Chapter 11 process are available on a separate website administered by PG&E's claims agent, Prime Clerk, at https://restructuring.primeclerk.com/pge.
Media: For media inquiries, please contact Media Relations at 415-973-5930.