Climate Changed
California Probe Clears PG&E for Deadliest 2017 Wildfire
- Wine country fire report comes as PG&E bankruptcy looms
- Fires caused billions of dollars in damages in 2017, 2018
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PG&E Corp. was cleared of blame for a deadly 2017 blaze just days before the California utility giant was set to file for bankruptcy to deal with crippling wildfire liabilities. And yet the company has given no indication that it’s changing course.
The finding by the California Department of Forestry and Fire Protection on Thursday may reduce PG&E’s projected $30 billion in liabilities from 2017 and 2018 wildfires by $17 billion, state Governor Gavin Newsom told reporters in Sacramento, stressing that the report “isn’t insignificant.” But analysts were giving smaller estimates -- to the tune of $8 billion -- and PG&E said in a statement that it still faces “significant potential” costs.