California News

PG&E Expects Wildfires Costs To Be $6B

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substantial losses for the third quarter, driven by catastrophic wildfires that have been blamed on the utility’s outdated transmission lines.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.

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Categories: California News

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