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PCG PR H - Pacific Gas And Electric Co News Story

$22.31 -0.2  -0.8%

Sector
Utilities
Size
Large Cap
Market Cap £4.22bn
Enterprise Value £30.19bn
Revenue £13.51bn
Position in Universe th / 6858

BRIEF-Pacific Gas and Electric updates about criminal trial alleging violation of safety standards

Tue 2nd August, 2016 10:21pm
Aug 2 (Reuters) - Pacific Gas and Electric Co  PCG_pa.A  
    * Pacific Gas and Electric-government filed dismissal notice 
of alternative fines act sentencing claims with court presiding 
over criminal trial against  unit 
    * Court has stated if co consents to dismissal, court is 
prepared to grant government leave to dismiss Alternative Fines 
Act sentencing allegations 
    * In response, utility has stated that it consents to 
dismissal of the allegations. 
    * Based on superseding indictment's allegation utility 
derived gross gains of about $281 million, potential maximum 
alternative fine to be about $562 million 
    * government filed dismissal notice of alternative fines act 
sentencing claims with court presiding over criminal trial 
against  unit 
    * Notice  indicating with leave of court, government 
dismisses alternative fines act sentencing allegations in 
superseding indictment 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nEOL7xsZJ0 
Further company coverage:  PCG_pa.A  
 
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