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https://www.npr.org/2019/01/14/6851...ver-possible-liability-in-california-wildfirePacific Gas & Electric Corp., the parent company of California's largest utility, plans to file for Chapter 11 bankruptcy protection amid what could be billions of dollars in liability costs over the massive wildfires that have torn through California in recent years.
The company made the announcement Monday. Just hours earlier, PG&E said that its CEO, Geisha Williams, would be stepping down.
The state's fire agency, Cal Fire, determined in June that PG&E equipment had sparked 17 wildfires across Northern California in 2017. In 12 of those fires, the agency's findings were referred to the appropriate county District Attorney's offices for potential violations of state law.
And regulators are now investigating the utility's potential culpability in November's Camp Fire, the deadliest in state history.
If PG&E is found legally responsible for some or all of the costs connected to the 2017 and 2018 Northern California wildfires, its liability could exceed $30 billion, according to the company's filing with the Securities and Exchange Commission on Monday
So much is missing from this story it is ridiculous.
So fill in the blanks, educate us.
So much is missing from this story it is ridiculous.
California approved SDGE to boost rates to cover lawsuits.
California approved SDGE to boost rates to cover lawsuits.
You meant to say that California Democrats approved SDGE to boost rates to cover lawsuits?
I knew that.
You meant to say that California Democrats approved SDGE to boost rates to cover lawsuits?
I knew that.
You see your bills every month right?
You see your bills every month right?
California... I didn't even have to say Democrats.
Democrats have a supermajority ....
My bills are <$1.00...
Solar.
Lucky you.
You must have a massive solar grid.
I pay about $40 a month. Not bad, considering I run central air from May through Oct.
While PG&E faces bankruptcy over being accused of being a reason for the spread of devastating fires, the California lawmakers went to Maui for a nice vaca with the utility execs while the fires raged.
https://www.foxnews.com/politics/ca...ii-with-utility-executives-as-wildfires-raged
Sorta reminds you of the 30 some Democrats traveling with one hundred lobbyists to Puerto Rico for a long weekend that just passed on a private flight staying in a posh resort, with their families and all expenses paid while part of the government is shutdown.
California approved SDGE to boost rates to cover lawsuits.
Its a very good thing that they stayed at a posh resort too, security is breaking down as the PR society continues to break, keeping safe while visiting is important now and going forwards.
Wrong! Per usual. The California gubmint/PUC approved rate hikes to cover additional liabilities from fires in 2017, not 2018. PG & E's fears are for the Camp fires and Paradise fires being caused by a power pole igniting the inferno. The suspect pole, transformer and insulators all had bullet damage and are the likely cause. An additional and significant underlying problem is the presence of California Redwoods adjacent to Power Transmission lines and towers, The Redwoods grow to 300 feet and when they fall the damage is 300 feet around e base. Potentially falling on the actual lines, towers, etc. They are protected and it is difficult to get premissions to cut them down to provide safety from falls. PG & E is uncertain of their potential liabilities and is being legally proactive to protect functionality of the Utility. California may allow rate increases to cover 2018 liabilities if found negligient and guilty, or not as the case may be. The goatherd plan to clean up trash, windfall, detritus, on and in the adjacent woods of the R.O.W. seems the most practical solution so far.
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Cost was no problem for the 30 some Democrats and their families. The lobbyists involved with the trip are big names like Amazon, Microsoft, Facebook, etc.
Good God, what a bunch of hand-wringing hysterical old biddies.
It's amazing that, out of the whole bunch, Dave Fagan is the only one making any sense.
Hats off to you, Dave Fagan.
PG&E embezzles money from safety funding to pay executive bonuses but sure let’s blame everything on those darned Democrats. All hail the job creators.
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