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A California public utility company suspected of starting deadly wildfires in the Golden State is holding out hope that officials might rescue it from liabilities threatening its financial stability.
California’s energy regulator is pledging a review of Pacific Gas & Electric Co., as well as possibly breaking up the state’s largest utility. The regulator is also open to allowing PG&E to pass costs associated with liabilities from wildfires to customers.
Utilities - Strength - Wherewithal - Goods - Services
“In general, we try to make sure that all utilities have the economic strength and wherewithal to procure the goods and services that Californians need,” Michael Picker, president of the California Public Utilities Commission, told The Wall Street Journal Thursday.
PG&E disclosed shortly after the fire began that one of the company’s high voltage power lines malfunctioned 15 minutes before the start of the Camp Fire was reported in...
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