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Arthur T Knackerbracket has found the following story:

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.

Also at NPR and Bloomberg.

Original Submission

1. "following story" - https://www.reuters.com/article/us-pg-e-us-bankruptcy-exclusive/exclusive-california-utility-pge-explores-bankruptcy-filing-sources-idUSKCN1OY225
2. "NPR" - https://www.npr.org/2019/01/04/677832387/devastating-wildfires-force-californias-largest-utility-to-plan-sale-of-gas-asse
3. "Bloomberg" - https://www.bloomberg.com/news/articles/2019-01-05/pg-e-is-said-to-consider-a-bankruptcy-filing-within-weeks
4. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=30981

printed from SoylentNews, California Utility PG&E Considers Filing for Bankruptcy on 2024-04-18 02:19:12