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SACRAMENTO, Calif. (AP) — Pacific Gas & Electric's key lenders on Tuesday offered a billion plan to pull the utility out of bankruptcy and give the tarnished company a new name.The proposal filed in U.S. Bankruptcy Court would set aside up to billion of that billion to pay claims on the 2017 and 2018 wildfires caused by PG&E equipment, the Sacramento Bee reported.The plan offered by PG&E's leading bondholders would compete with an alternative that the newspaper says is being drafted by PG&E. Normally the company in bankruptcy has first crack at proposing an exit plan, but the bondholders said in a court filing that they filed their plan because PG&E has "wasted crucial time needlessly."The bondholders also want to rebrand PG&E as Golden State Power Light & Gas Company.Asked about the bondholders' plan, the utility said in a statement that it was considering all options as it navigates the bankruptcy process.The new proposal came four days after Gov. Gavin Newsom, a Democrat, floated the idea of a billion package to deal with the costs of future wildfires, paid for by ratepayers and shareholders of PG&E and the other two big electric utilities in California.Newsom's plan does not offer any cash for PG&E's existing liabilities but would revise state law to give utilities more certainty about recovering costs from ratepayers — enough stability that Newsom believes will allow PG&E to borrow the money it needs to pay existing claims, according to the Bee.The bondholders include some of the biggest investors on Wall Street, including Elliott Management, Pimco and Apollo Global Management. They have been quietly promoting a PG&E restructuring plan for weeks in conversations with legislators, Newsom's aides and others. Tuesday's court filing marks the first time they have taken the proposal public."Substantial new capital must be infused into the company," the bondholders said in their court filing.The governor's office had no immediate comment on the bondholders' proposal.Like Newsom's plan, the proposal is "ratepayer neutral" — meaning, customer rates would not go up to pay the costs of getting PG&E out of bankruptcy.But ratepayers would pay: The plan calls for a .50 monthly charge, a feature of PG&E bills since the 2001 energy crisis, to be extended for several years to help raise dollars for a wildfire insurance fund proposed by Newsom last week. That fund would help pay claims for future fires.___Information from: The Sacramento Bee, http://www.sacbee.com 2574
SACRAMENTO, Calif. (AP) — Authorities say somebody stole a tripod from a California Department of Transportation crew and then dropped it from an overpass onto a Sacramento freeway, impaling the lung of a passenger in a van.The driver of the van, Tim Page, tells KCRA-TV that he was on Interstate 5 Thursday morning when the yellow-and-red tripod smashed through the glass. He says it went through his passenger's lung and popped out.The man survived but with broken ribs and a partially punctured lung.Authorities say a 32-year-old man, who the Sacramento Bee identified as homeless, threw the tripod was arrested after a brief struggle and chase. He had an outstanding warrant but may face a charge of attempted murder.Page volunteers with El Dorado Veteran Resources and had picked up his passenger, another veteran, from the airport. 845
RIVERSIDE, Calif. (KGTV and AP) - New charges were filed Friday against a Riverside County couple accused of torturing their children by starving, beating and shackling them. 192
SACRAMENTO, Calif. (AP) — California and 16 other states have filed a lawsuit against the Trump administration over its plans to scrap gas mileage standards and how much greenhouse gases vehicles can emit, Gov. Jerry Brown and Attorney General Xavier Becerra announced Tuesday.The suit takes aim at a plan by the Environmental Protection Agency to eliminate standards for vehicles manufactured between 2022 and 2025. The standards would have required vehicles to get 36 miles per gallon (58 kilometers per gallon) by 2025, about 10 miles (16 kilometers) over the existing standard.EPA administrator Scott Pruitt says the standards are not appropriate and need revision. They were set in 2012 when California and the Obama administration agreed to single nationwide fuel economy standard.RELATED: President Trump, California clash over key issuesCalifornia officials say the standards are achievable and the EPA's effort to roll them back is not based on any new research. They argue the plan violates the Clean Air Act and didn't follow the agency's own regulations.California has a unique waiver that allows it to set its own tailpipe emissions standards for vehicles, which it has used to combat smog and more recently global warming. Twelve other states have adopted the California standards as their own.Automakers have argued that the current requirements would have cost the industry billions of dollars and raised vehicle prices due to the cost of developing the necessary technology.RELATED: Nearly every governor with ocean coastline opposes Trump's drilling proposalThe lawsuit was filed in the U.S. Circuit Court of Appeals for the District of Columbia. Joining California are Connecticut, Delaware, Illinois, Iowa, Maine, Maryland, Minnesota, New Jersey, New York, Oregon, Rhode Island, Vermont, Washington, Massachusetts, Pennsylvania, Virginia and the District of Columbia. 1905
SACRAMENTO, Calif. (AP) -- California's top public health official has resigned.Dr. Sonia Angell is out as director and state public health officer for the California Department of Public Health. Her resignation letter released late Sunday doesn't explain her departure.It comes just days after the state announced a fix for a glitch that caused a lag in reporting coronavirus test information used to make decisions about reopening businesses and schools.The state's Health and Human Services Agency has chosen two people to fill Angell's positions. One will be the acting health director, and the other will be the acting public health officer. 654