PG&E considers asset separation in strategic review after wildfire liability talks fail

Patti Poppe: Patti Poppe serves as CEO of PG&E Corporation, overseeing operations and strategic decisions for the major California utility. In recent statements, she has highlighted the company's launch of a strategic review and short-term adjustments to capital plans amid uncertainty over wildfire costs. Poppe has publicly advocated for policy changes to address financing risks tied to California's liability rules for utility-sparked fires. Pacific Gas and Electric: Pacific Gas and Electric (PG&E) is California's largest utility, delivering electric and gas services to millions of customers across the state. The company has emphasized progress in safety and reliability while navigating ongoing challenges from the state's wildfire liability framework. It recently initiated a strategic review, led by a board committee, to evaluate options for its organization and financing in response to legislative inaction on liability reforms. Policy: The failure of proposed wildfire liability reforms has left investor-owned utilities facing continued financial uncertainty, prompting strategic actions to manage risks and maintain service reliability. Industry: California's unique wildfire liability framework continues to create financing challenges for utilities, influencing decisions on investments and corporate structure. Regulation: California lawmakers adjourned in early September 2026 without passing legislation that would have limited utilities' exposure to wildfire liability costs, despite negotiations involving Governor Gavin Newsom.