The bankruptcy of the Californian Utility Pacific Gas and Electric could set back renewables years if its requests to a local court are granted – it wants to renegotiate previously secure power purchasing deals based on today’s pricing, rather than deals done 20 years ago. This creates a cost difference for PG&E of something like $30 per MWh, compared with almost $200 that its oldest deal were placed for. This single step would make entire portfolios of renewables unprofitable and may lead to a series of domino-like bankruptcies across the US. This would be hugely unfair given that it is not the renewable contracts which put PG&E in trouble, but its shoddy electrical connections which have been blamed for the…