It’s the latest development in the PG&E saga.
Bloomberg, as the company faces $30 billion in liabilities and penalties for its role in starting the wildfires—although it has already set aside the vast majority of those funds.with insurance companies, which included damages claims from both 2017 and 2018.Wildfires have devastated California over the last three years, burning down entire towns and killing hundreds. The issue has been made worse by aof malfunctioning electrical equipment and climate change.
PG&E filed for bankruptcy protection in January, after its equipment was found to have caused the devastating 2018 Camp Fire. The struggling utility company is now navigating a host a settlements and damages claims, not to mention a plunging stock price and calls for new ownership.to millions of people in recent months, prompting more chaos and public frustration.
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