PG&E Held Responsible for Fire That Killed 85
16 May 2019 - 9:00PM
Dow Jones News
By WSJ City
California investigators found that PG&E's equipment sparked
the deadliest wildfire in state history, putting additional
pressure on a company already facing billions of dollars in
fire-related liability costs.
KEY FACTS
-- Investigators found a PG&E electric-transmission line near the town of
Pulga, ignited last year's Camp Fire.
-- The fire spread quickly across dry vegetation, killing 85 people and
destroying the town of Paradise.
-- A second point of ignition was also found where vegetation blew into the
company's electric-distribution lines.
-- This started another fire that was consumed by the first one.
-- PG&E could face billions of dollars in liability costs.
-- It said earlier this year that its equipment was probably the cause of
the Camp Fire.
-- Investigators previously found the company's equipment contributed to 18
blazes that killed 22 people in 2017.
Why This Matters
PG&E sought bankruptcy protection in January in anticipation
of more than $30bn in potential liability costs. It is now working
to overhaul its safety practices by accelerating inspections of
transmission and distribution equipment and building out a network
of weather stations and cameras to monitor wildfire risk.
A fuller story is available on WSJ.com
WSJ City: The news, the key facts and why it matters. Be deeply
informed in less than five minutes. You can find more concise
stories like this on the WSJ City app. Download now from the App
Store or Google Play, or sign up to newsletters here
http://www.wsj.com/newsletters?sub=356&mod=djemwsjcity
(END) Dow Jones Newswires
May 16, 2019 06:45 ET (10:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
PG&E (NYSE:PCG)
Historical Stock Chart
From Apr 2024 to May 2024
PG&E (NYSE:PCG)
Historical Stock Chart
From May 2023 to May 2024