Nation’s Largest Power Utility PG&E Files for Bankruptcy

(From Reuters)

Power provider PG&E Corp filed for voluntary Chapter 11 bankruptcy protection on Tuesday, succumbing to liabilities stemming from wildfires in Northern California in 2017 and 2018. . . .

PG&E, which filed for bankruptcy once before in 2001, warned in November it could face “significant liability” in excess of its insurance coverage if its equipment was found to have caused the Camp Fire and other destructive wildfires.

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