Free Republic

PG&E's bankruptcy court revealed that the company may dump its state-mandated renewable energy source contracts that cost up to 800 percent more than market rates. California mandated a zero carbon emissions future by passing the Global Warming Solutions Act of 2006. With PG&E residential electric rates rising by 71 percent to subsidizing renewables, Northern Californians' electricity costs 19.30 cents per kilowatt-hour, or about double the 10.66 cents in Oregon and 9.46 cents in Washington.

PG&E Corp. stock cratered Monday after the company said it will file for Chapter 11 bankruptcy protection amid the financial anguish stemming from its part in helping spark a wave of historic wildfires in California. Shares of the company dropped nearly 50 percent in early trading Monday, one day after the company said Chief Executive Geisha Williams was stepping down. The company provided the official 15-day advance notice that it and its wholly owned subsidiary, Pacific Gas and Electric, intend to file petitions to reorganize under Chapter 11 of the U.S. Bankruptcy Code on or about Jan. 29.