California utilities regulator reviewing PG&E request for $6 billion in borrowing

The California Utilities Commission said in a notice on Monday it would hold an emergency meeting to review a request by power provider PG&E Corp
to seek up to $6 billion in debtor-in-possession financing for the company`s expected bankruptcy.

The meeting will be held Monday afternoon in San Francisco ahead of PG&E`s anticipated filing for Chapter 11 bankruptcy protection and will take up an application by the power provider to increase its borrowing for short-term needs by $2 billion, lifting it to a total of $6 billion.

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