How will the financial pain of a PG&E bankruptcy be spread?

According to a new Greentech Media article, the rate payers in PG&E service territory stand to bear the brunt of a PG&E bankruptcy.:

“Who stands to be hurt most by PG&E’s financial crisis? The short answer to this question is, beyond the shareholders who are wiped out, mostly PG&E ratepayers — unless the state steps in to socialize the costs. PG&E’s 2001 bankruptcy ended in 2003 with a settlement that allowed the utility to pass on about $7 billion in costs on to its customers through increased rates.” 

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