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

February 28, 2019

(Reuters) – 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.

(Reporting by John Benny in Bengaluru; Editing by Anil D’Silva)

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