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

SAN FRANCISCO (Reuters) - The California Public Utilities Commission on Monday approved a plan by power provider PG&E Corp to seek up to $6 billion in debtor-in-possession financing for its expected bankruptcy. The commission backed the plan at an emergency meeting ahead of PG&E's anticipated filing for Chapter 11 bankruptcy protection. The plan increases PG&E's borrowing for short-term needs by $2 billion, lifting it to a total of $6 billion

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