PG&E Seeks Declaratory Judgment Confirming Bankruptcy Court's Exclusive Jurisdiction to Determine Rejection of Power Purchase Agreements

PG&E Corporation and its utility subsidiary Pacific Gas & Electric Company (PG&E) recently filed the largest utility bankruptcy in U.S. history, and the sixth-largest corporate bankruptcy ever. As we noted prior to PG&E’s bankruptcy filing, one of the critical issues in this case is how PG&E intends to address its contracts with energy suppliers, including the solar and wind farms that sell energy to PG&E under long-term power purchase agreements (PPA).