PG&E Corp., the California utility giant that emerged from bankruptcy last year, said it sees total costs of $1.1 billion for damage claims from wildfires linked to its power lines over the past two years.
PG&E recorded an additional first-quarter charge of $175 million for the 2019 Kincade fire, bringing the total estimated claims from the blaze to $800 million, according to a filing Thursday. The utility also booked an added charge of $25 million for the 2020 Zogg fire, raising the total estimated cost of that fire to $300 million. California investigators have found that the two blazes were sparked by PG&E equipment.
