Here’s how a soon-to-be bankrupt company that’ll default on all its debts can still borrow $5.5 billion.
California’s rate payers & taxpayers likely on the hook, as we know from PG&E’s first bankruptcy in 2001.
For investors there is little clarity through the smoke and haze.
California utility goes for “cash conservation.” Investors, not just rate payers, to foot the bill.
The power of monopoly and regulatory capture.