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PG&E says probably the Paradise was destroyed by fire, Calif.


Pacific Gas & Electric said on Thursday that its installation would probably cause Camp Fire, the catastrophic November flame that had destroyed hundreds of homes in Paradise and killed at least 86 people.

PG&E, who filed for bankruptcy in January, said it had charged $ 10.5 billion to the fire, the most dangerous claim in state history. As a result, the company reported a loss of $ 6.8 billion by 2018.

Although the cause of the fire is still under official investigation by California officials, PG&E said it "believes it is likely that its equipment will be defined as the focal point of the 2018 campfire." electric power line. In his PG&E report he said that the line check found equipment that needs to be repaired or replaced.

PG & E, which serves approximately 16 million people in Northern California and Northern California, is criticized by legislators, consumer groups, and others because they do not adequately reduce the risk of fire fires and drivers. In addition to Camp Fire's expenditures, in 2017, PG&E charged $ 1 billion in fire risk.

On Thursday, the company said it would increase equipment control in areas where regulators are highly flammable. "We have recognized that we need to do more to adapt to the increasing risk of wild boar and extreme weather, to keep our customers and our community safe," said John Simon, PG & E's interim CEO.

PG&E said that the purpose of the bankruptcy proceedings was to protect it from its wild boar duties. However, some investors have said that PG & E does not need bankruptcy protection because it earns enough money to pay for the fire risks. PG & E shares, which have doubled in recent weeks, fell by about 1.5 percent on Thursday morning.

The company has already used the bankruptcy announcement to stop the payments to some firefighters. PG&E stopped paying the claims made by Butte Fire in 2015. But the fire doesn't seem to be a big financial burden for the company. In the fourth quarter, PG&E charged $ 9 million in legal costs for the Butte Fire, a fraction of the cost of other fires.

"PG&E has stopped clearing offers to individual plaintiffs in recent litigation related to fires and the financial uncertainty surrounding them," the company said in an email. "As described in Chapter 11, any settled Butte Fire settlements will be treated in bankruptcy proceedings."

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