Public utilities: Pacific Gas and Electric Company: bankruptcy.

This measure would provide that the pending Pacific Gas and Electric Company and Pacific Gas and Electric Corporation Chapter 11 bankruptcy proceedings, and any resolution thereof, must protect the citizens of California from the imminent and ongoing threats posed by climate change, the buildup of fuels, and inadequate electrical infrastructure. The measure would provide that it is the will of the Legislature that the Public Utilities Commission, in filings with the bankruptcy court overseeing the proceedings, promote certain policy goals relating to Pacific Gas and Electric Company, the electrical and gas systems, and victims of wildfires, and communicate the proceedings' profound and direct impacts on the people of California. The measure would provide that it is the will of the Legislature that all Pacific Gas and Electric Company executive compensation be restricted based upon strict compliance with safety and reliability laws and that the company reconstitute its board as specified.