Climate Changed
PG&E Falls After Reporting Second Power-Line Failure in Fire
- Camp Fire, state’s deadliest blaze, has killed at least 77
- Utility’s stock has plummeted by half since wildfire ignited
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PG&E Corp.’s shares, which spiked on Friday, slumped again after disclosing that a second power line failed the morning California’s deadliest fire began and a state official criticized the makeup of the company’s board.
A circuit in Concow, Butte County, failed at about 6:45 a.m. on Nov. 8, the utility said Friday in a filing. The California Department of Forestry and Fire Protection, known as Cal Fire, collected equipment on that circuit and “has secured a location near PG&E facilities,” the company said.