JUST IN: California Gov. Newsom rejects PG&E's bankruptcy plan.
Though designed to ensure that power equipment wouldn't cause wildfires during dry, windy weather, the blackouts"caused extreme uncertainty and harm for Californians who rely on power for their health care and for their livelihoods," Newsom wrote to CEO Bill Johnson.
Newsom is calling for"a radically restructured and transformed utility" including an all-new board of directors, clear safety metrics, a process for transferring the utility's"license" to the state"when circumstances warrant," and"escalating enforcement" if PG&E falters on safety, management or business.
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