Thursday, May 16, 2013

PG&E to pay the San Bruno pipeline explosion penalty, and take the tax break

San Francisco Chronicle/David R. Baker, 5/15/13.  "PG&E's $900 million San Bruno tax break?"

The $2.25 billion penalty that PG&E may face as a result of the deadly 2010 San Bruno pipeline explosion certainly sounds like harsh punishment. The 2010 San Bruno pipeline explosion killed 8 people.
ABC local news, 9/13/10, includes 4.04 minute video

State officials proposed the penalty last week, saying the eye-popping price tag was necessary to reform Pacific Gas and Electric Co.

But that number is more slippery than it might at first appear.  PG&E will be able to receive credit for some of the pipeline work it has already performed following the explosion. But company executives aren’t sure how much. They’ve already spent more than $1.6 billion responding to the accident.

And in addition there’s this little surprise: the penalty could give PG&E a $900 million tax write-off.   Read more.

Related -  Fix Pacifica reprints, San Bruno fire.

Posted by Kathy Meeh

1 comment:

Anonymous said...

PGE will pass the cost off to the ratepayers.