PG&E to Pay $2.2 Billion to Upgrade Pipelines After San Bruno
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PG&E Corp. will pay $2.2 billion to replace natural-gas pipelines in the wake of its fatal 2010 explosion in San Bruno, California.
The utility will pay $1.4 billion in capital costs and $750 million in expenses between 2011 and 2014, according to a filing today with the Securities and Exchange Commission. PG&E has applied for permission to pass some of the costs to customers. Shareholders will absorb $535 million, according to the filing.