PG&E : Wildfires cost more than $6 billion

National News

November 7, 2019 - 10:07 AM

SAN FRANCISCO (AP) — 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substantial losses for the third quarter, driven by catastrophic wildfires that have been blamed on the utility’s outdated transmission lines.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 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.

The company is also facing criticism for intentional blackouts that have left millions without power as it tries to limit wildfires during dry, windy conditions.

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