California utility owner PG&E Corp is exploring expanding its board as it naviga...
FILE PHOTO: PG&E works on power lines to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage
The discussions between PG&E and BlueMountain representatives underscore the restructuring challenges the company faces since filing for bankruptcy in January to address potentially crushing liabilities from catastrophic wildfires. The discussions are in early stages and will not necessarily lead to a deal that would again revamp PG&E’s board, according to the sources, who spoke on condition of anonymity because the talks are confidential. A PG&E representative declined to comment.
Sources familiar with the talks have said that the company has been impressed with the skill-set the BlueMountain nominees bring in three main areas: doing business in California, safety and risk management, and utility and clean energy operations.
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