Monday, September 13, 2010

PG&E (NYSE:PCG) Must Perform Systemwide Inspection Says Regulators

Pacific Gas & Electric Co. has been ordered by the California Public Utilities Commission to perform a system wide inspection of its sprawling pipelines, in response to the natural gas explosion which has claimed 7 lives so far, and destroyed 37 homes.

It wasn't clear which particular portions of the pipeline were targeted for inspection, as PG&# has over 42,000 miles of natural gas distribution pipelines and over 5,700 miles of transmission pipelines.

For sure the inspections will include what is called "high priority" areas, which are pipelines going through high-population areas.

The energy company was also told to retain any record in connection with the explosion and work related to the failed pipeline. Specifically identified was work connected to the Milpitas terminal, which was undertaken in September 2010.

Also under scrutiny will be the process PG&E has in place for inspections, along with how much of the designated budget used for inspections is actually spent.

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