CBS Bay Area-
Pacific Gas & Electric is reporting substantial losses for the third quarter, driven by catastrophic wildfires that have been blamed on the utility’s outdated transmission lines. The San Francisco-based company anticipates those costs could escalate to as much as $6.3 billion.
PG&E filed for bankruptcy in January to deal with an estimated $30 billion in liabilities from wildfires that its equipment may have ignited in 2017 and 2018, including a wildfire last November that essentially wiped out the Northern California town of Paradise and killed 85 people.
Categories: California News