PG&E Down 1% on $1.25 Billion Proposed Fine for Fatal San Bruno Explosion


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Shares of PG&E Corp ( PCG ) are down more than 1% to $46.60 after San Bruno, Calif. officials are proposing that the California Public Utilities Commission order PG&E to pay $1.25 billion in fines after a fatal pipeline explosion in San Bruno California on September 9, 2010.

The explosion of the high-pressure natural-gas pipeline caused a massive fire that killed eight people, injured 58 others, and damaged or destroyed more than 100 homes.

The new sum would be in addition to about $1 billion state regulators already have ordered PG&E to pay.

PCG is trading within a 52-week range of $39.40 to $48.50

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This article appears in: Investing , Commodities

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