PG&E applied for $7B federal loan to reduce wildfire risk, WSJ reports

PG&E has applied for a $7B federal loan to fund its plans to reduce California wildfire risk by burying power lines and upgrading the electric grid, Amrith Ramkumar and Katherine Blunt of Wall Street Journal report, comments made by the company’s CEO Patti Poppe in an interview. PG&E was invited to apply for funding from the Energy Department’s Loan Programs Office, reports the Journal. If approved, the loan amount would rank among the largest-ever loans for the office, it adds.