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California utility company PG&E Corp is exploring filing some or all of its business for bankruptcy protection as it faces billions of dollars in liabilities related to fatal wildfires in 2018 and 2017, people familiar with the matter said on Friday.
The company is considering the move as a contingency, in part because it could soon take a significant financial charge for the fourth quarter of 2018 related to liabilities from the blazes, the sources said.
A bankruptcy filing is not certain, the sources said. The company could receive financial help through legislation that would let it pass on to customers costs associated with fire liabilities, the sources said. But that is just a possibility, they said, so bankruptcy preparations are being made.
(Score: 2) by bob_super on Monday January 07 2019, @05:55PM
> The best forest management might well set the forest deliberately ablaze every year or two.
You like Mojave ? Because this is how you get Mojave.
Without humans around, temperate forests burn every 30 to 100 years, depending on location and sheer random luck.
Burn it too often, add warming, and you get soil erosion and no recovery for a decade (the mountain by me got hit by 3 years or drought just after a major fire, not much has recovered in almost 6 years).