This is not the beginning of a new energy crisis, however. The lights will not go off in Northern California, most of which relies on PG&E for its power. The utility is reorganizing its debt, not liquidating itself. The power lines won’t be taken down and sold to scrap yards. And there’s no state shortage of electricity or gas. In fact, if anything, the expected bankruptcy process presents an opportunity of sorts because it gives lawmakers the motive and the incentive to rethink the dominant but apparently flawed model for electric power service in the state.
Source: latimes.com – Los Angeles Times