PG&E Says It’s Likely Behind California Wildfires, Braces for Additional $11.5 Billion in Damages
Pacific Gas & Electric is including an $11.5 billion pre-tax charge related to third-party claims in connection with devastating wildfires that hit the state in the last two years, according to financial data released on Feb. 28. The battered utility admits that based on information currently available, it is “probable” that its equipment will ultimately be determined to have…