![]() There were 11 original stockholders, and the three Donahue brothers subscribed for 610 of the 1,500 shares. Its official seal bore the inscription " Fiat Lux"-let there be light-the same slogan later adopted by the University of California. It became the first gas utility in the West. : 11–12 Eastland and the Donahue brothers incorporated the San Francisco Gas Company on August 31, 1852, with $150,000 of authorized capital. The council specified that gas should be supplied to households "at such rates as will make it to their interest to use it in preference to any other material". In July 1852, James applied for and received from the Common Council of the City of San Francisco a franchise to erect a gasworks, lay pipes in the streets and install street lamps to light the city with "brilliant gas". Eastland, an engineer and clerk at the foundry, joined them in gathering information. Three brothers-Peter, James, and Michael Donahue-ran the foundry that became the Union Iron Works, the largest shipbuilding operation on the West Coast, and became interested in manufacturing gas : 11 Joseph G. Street lights only on Merchant Street, in the form of oil lamps. Larger American cities in the east built gasworks, but the west had no gas industry. In the 1850s, manufactured gas was introduced to the United States for lighting. Bankruptcy Judge Dennis Montali issued the final approval of the plan for PG&E to exit bankruptcy. The company hoped to come out of bankruptcy by June 30, 2020, and was successful on Saturday, June 20, 2020, when U.S. On January 14, 2019, PG&E announced its filing for Chapter 11 bankruptcy in response to its liability for the catastrophic 20 wildfires in Northern California. The formal finding of liability led to losses in federal bankruptcy court. In 20, the company received widespread media attention when investigations by the California Department of Forestry and Fire Protection (Cal Fire) assigned the company primary blame for two separate devastating wildfires in California. PG&E is one of six regulated, investor-owned electric utilities (IOUs) in California the other five are PacifiCorp, Southern California Edison, San Diego Gas & Electric, Bear Valley Electric, and Liberty Utilities. ![]() PG&E was established on Octofrom the merger and consolidation of predecessor utility companies, and by 1984 was the United States' "largest electric utility business". Overseen by the California Public Utilities Commission, PG&E is the leading subsidiary of the holding company PG&E Corporation, which has a market capitalization of $3.242 billion as of January 16, 2019. PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines. The company is headquartered at 300 Lakeside Drive, in Oakland, California. The Pacific Gas and Electric Company ( PG&E) is an American investor-owned utility (IOU).
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