PG&E Corp. CEO Anthony Earley told Bloomberg earlier this week that the company may be looking at settling soon with the California Public Utilties Commission over its ongoing probes stemming from the 2010 San Bruno explosion.
The CPUC is currently looking into whether PG&E broke the law in the years leading up to the pipeline explosion, which left eight people dead and 38 homes destroyed in the Crestmoor neighborhood. PG&E has already set aside $200 million for this year in anticipation of the fines from state regulators.
The CPUC's Consumer Protection and Safety Division, which is leading the probe into whether PG&E will get fined for the disaster, recently by failing to properly monitor the maximum operating pressure on 150 miles of pipeline.
At the Edison Electric Institute’s annual convention in Orlando, FL, Earley spoke more about the progress of the investigation, according to Bloomberg:
Earley said the “time might be right” to negotiate a deal and he was eager to have it in place by the second anniversary of the tragedy in a San Francisco suburb.
“By the second anniversary, on Sept. 9, we need to show progress or people are going to start asking why hasn’t this come along,” Earley said.
PG&E is also facing more than 250 lawsuits filed by residents who were affected by the disaster. The trial is expected to begin in July.
Earley told Bloomberg that his goal is to wrap up all the proceedings related to the San Bruno fire by the end of the year.
Will these efforts finally bring closure to the residents who were affected by the explosion?