For PG&E's Fate After California Fires, Watch This Case
- PG&E has seen market value slump since last month’s fires
- San Diego case could be harbinger of who ends up footing bill
A firefighter battles flames in Canyon Country, California, in 2007.
Photographer: Jonathan Alcorn/Bloomberg
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California regulators are about to vote on whether a utility can claw back costs related to wildfires in 2007. Their decision may set a precedent for PG&E Corp., which could face billions in dollars of potential damages from last month’s deadly wine country fires.
The California Public Utilities Commission will vote as early as Thursday on San Diego Gas & Electric’s request to recoup $379 million in costs from Southern California wildfires. Two judges have recommended rejecting the request by the Sempra Energy unit to pass along some costs to customers, saying the company didn’t properly manage its facilities.