California power market not impacted by PG&E bankruptcy: grid operator

FILE PHOTO: PG&E crew work to repair damage caused by the Camp Fire in Paradise
FILE PHOTO: PG&E crew work to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage/File Photo/File Photo

January 29, 2019

(Reuters) – California’s power grid operator said on Tuesday the bankruptcy filing by PG&E Corp and its Pacific Gas and Electric Co utility, the biggest U.S. power company, has not had any effect on the state’s power grid and energy markets.

Earlier on Tuesday, PG&E filed for bankruptcy protection in anticipation of liabilities in excess of $30 billion from the deadliest wildfires in California’s history.

The California Independent System Operator (ISO), which operates the power grid in most of California, said PG&E was continuing to pay the ISO’s market invoices according to normal procedures.

The ISO also said it is continuing normal day-to-day operations with the utility and has not detected any material change in market trends that could be attributed to PG&E since the utility announced its intention to file for bankruptcy protection.

PG&E provides electricity and natural gas to 16 million customers in northern and central California and employs 24,000 people.

(Reporting by Sumita Layek in Bengaluru; Editing by Matthew Lewis)

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