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PG&E asks California regulators to approve a 22% rate hike (www.nbcbayarea.com)

submitted 11 months ago by farcaster@lemmy.world to c/bayarea@lemmy.world

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During the first quarter of 2023, PG&E earned $623 million, an 18.2% jump in profits from the $527 million the company tallied during the same quarter in 2022, PG&E said Thursday in a quarterly report filed with the Securities and Exchange Commission.

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[–] WilliamTheWicked@lemmy.world 14 points 11 months ago (1 children)

It's on the face corrupt bullshit. How are you posting millions of dollars profit after declaring bankruptcy?

[–] moody@lemmings.world -3 points 11 months ago (1 children)

They didn't "declare bankruptcy," they filed for Chapter 11 which is meant for reorganizing. It puts a hold on collections to allow the company to get its finances in order. It's not for outright dismissing debts the way personal bankruptcy would.

[–] WilliamTheWicked@lemmy.world 6 points 11 months ago (1 children)

Do me a favor and finish the statement, "They filed for Chapter 11 b-------cy."

[–] SpaceNoodle@lemmy.world 2 points 11 months ago

Bitch Nancy?