PG&E is shifting its internal focus following a legislative setback in California. The utility has launched a broad strategic review aimed at slashing costs and reducing debt requirements. This pivot follows the unexpected failure of a state bill designed to overhaul funding mechanisms for wildfire victims, leaving the company to navigate its financial obligations without the anticipated regulatory support.
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Utility Stocks Rally as Treasury Yields Retreat
A five-day rally in Treasury yields finally broke on Thursday, providing immediate relief for the utility sector. Investors, long wary of how rising bond rates stifle interest in power producers often viewed as bond proxies, seized the cooling market to push share prices higher during the trading session.
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