California News

Investors Are Running From PG&E Over ‘Camp Fire’

Sacramento Bee-

Investors are bailing out on PG&E as the troubled utility potentially faces more financial liability from the Camp Fire in Butte County, potentially the state’s most deadly wildfire.

PG&E’s stock price has fallen by one third since the utility disclosed to state regulators late Thursday that one of its transmission lines suffered an outage at about the time the Camp Fire ignited near the town of Pulga. The decline includes a drop of 15 percent in Monday morning trading, to $33.91 a share, on the New York Stock Exchange.

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