PG&E Corp (NYSE:PCG) Keeps Rating on Settlement Progress

FBR Capital reiterated its "Outperform/Top Pick" on PG&E Corp (NYSE:PCG), citing progress toward a rate case settlement.

"It appears that PG&E's general rate case settlement discussions continue to be progressing well. In an email sent on October 7, PG&E's law department invites all parties to a settlement conference held on October 15, 2010 (this Friday). In this email, PG&E indicates that it is 'hopeful' that during this conference the parties "will successfully conclude negotiations and produce a settlement.

"In a subsequent email sent to the Administrative Law Judge and all parties, PG&E indicates that the next status report will be submitted no later than Monday, October 18, 2010," said FBR.

The company was also recently sued in connection to the San Bruno, California, that killed eight people.

PG&E closed Monday at $46.59, down $0.19, or 0.41 percent.

PG&E (NYSE:PCG) Compensation Fund Set Up to Help Victims of Explosion

Pacific Gas & Electric Co. (NYSE:PCG) has put a $100 million compensation fund in place to aid victims of the natural gas explosion in San Bruno, California.

Victims who receive anywhere from $15,000, $25,000 or $50,000, determined by how much their homes had been damaged, won't have to waive their right to sue if they want, contrary to the compensation fund offered by BP (NYSE:BP); although temporary payments by BP for emergency use don't require waiving the right to sue.

PG&E said in a press release, “Residents are not being asked to waive any potential claims in order to receive these funds.”

So far there have been seven deaths in the accident, with six others not accounted for.