Market Intelligence
PCG

PG&E takes $10.5 bln charge related to 2018 Camp Fire

Reuters

Feb 28 () - California power company PG&E Corp, which filed for bankruptcy last month because of potential liabilities from wildfires in the state, recorded a $10.5 billion charge related to 2018 Camp Fire, the company said in a filing on Thursday.

PG&E also said it would take an additional $1 billion charge related to 2017 Northern California wildfires

Federal filings showed on Wednesday the power utility had delayed a safety overhaul of a high-voltage transmission line, a prime suspect behind the deadliest wildfire in California's history.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More