PG&E’s Bankruptcy Plan Heads Toward Approval in California

California regulators are being advised to approve Pacific Gas & Electric’s plan to emerge from bankruptcy with new controls designed to prevent a recurrence of the utility’s past bad behavior that has resulted in deadly wildfires, infuriating blackouts and high electricity rates.

If approved, a proposed decision issued Monday by Administrative Law Judge Peter Allen will enable PG&E to clear another key hurdle in its frantic race to end one of the most complex bankruptcy cases in U.S. history by June 30 or risk losing billions in state funding. The California Public Utilities Commission, the company’s chief regulator, will vote on the recommendations in the 117-page report May 21.