PG&E Says Post-Blast Pipeline Work Should Reduce Fines

Law360, New York (March 22, 2012, 4:14 PM EDT) -- Pacific Gas & Electric Co. has asked California regulators to consider, in determining any additional fines against the utility, the $221 million PG&E spent on pipeline testing and other improvements after a deadly 2010 pipeline explosion in San Bruno, the company confirmed Thursday.

PG&E executives had told the California Public Utilities Commission at a hearing Tuesday that the utility took the $221 million from shareholders last year to perform pipeline testing, records verification and other improvements stemming from the blast, according to PG&E spokesman David Eisenhauer....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.