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PG&E splashes red ink with $2.5B Northern California wildfire charges
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As previewed last month, PG&E Corp., parent of wildfire-devastated Pacific Gas and Electric Co. (PG&E), on Thursday reported net losses for the second quarter as part of a $2.5 billion pre-tax charge for estimated third-party claims related to 14 of the Northern California wildfires that ravaged the state last fall. (Natural Gas Intelligence)
 
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California lawmakers give utilities a reprieve amid fire lawsuits
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California lawmakers voted to give a reprieve to Pacific Gas & Electric Co. in the frenzied final hours of the two-year legislative session. CBS News reports that legislators sent Gov. Jerry Brown a measure allowing power companies to raise electric bills to cover the cost of lawsuits from last year’s deadly wildfires—even if the utility is found to have behaved negligently. Even many of the lawmakers who voted for the measure said they had misgivings but believed it was necessary to prevent financial ruin for PG&E. (CBS)
 
It seems Butte County fire was started by downed PG&E power lines; so far PG&E has blown up San Bruno, burnt down Santa Rosa and Paradise all in less than a decade.
 
Fires put pressure on California utilities despite new law
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California utilities again are facing severe financial pressures from the possibility that their equipment sparked catastrophic wildfires, including two that are now burning at either end of the state. The pressure comes even though Gov. Jerry Brown signed legislation in September giving utilities some relief beginning next year. The law made it easier for utilities to pass along costs from fire-related damages to consumers. (Daily Herald)
 
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