PG&E Says Wildfires, Blackouts Are Fiscal Risks

Law360 (November 7, 2019, 6:21 PM EST) -- Pacific Gas & Electric Co. told federal regulators Thursday that the possibility of new wildfire liability and a loss of reputation from power shutdowns done in an attempt to mitigate that liability are among the latest threats to its finances.

The third-quarter financial report filed with the U.S. Securities and Exchange Commission said the company had lost about $1.6 billion in the quarter and laid out possible future risks, including liability stemming from an October wildfire, public and government reaction to recent planned blackouts, and an "uncertain" bankruptcy process that could last "a number of years."

The nation's largest utility filed...

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