Several insurance companies have filed lawsuits blaming Pacific Gas & Electric Co. for a deadly California wildfire that destroyed 14,000 homes and triggered billions of dollars in insurance claims. The lawsuits filed by Allstate, State Farm, USAA and their subsidiaries …
A California utility’s role in igniting wildfires last year could allow a judge to find that it violated terms of its criminal sentence in a 2010 gas pipeline explosion that killed eight people, federal prosecutors said. In a court filing, …
California regulators said they are considering splitting up Pacific Gas & Electric Co. or making other drastic changes amid concerns over the utility’s role in recent gas explosions and wildfires. Among the options under consideration by the California Public Utilities …
Regulators have accused one of California’s largest utilities of falsifying safety documents for natural gas pipelines for years following its criminal conviction and multimillion-dollar fine for a pipeline explosion that killed eight people near San Francisco. The California Public Utilities …
California utilities plan to insulate power lines, increase inspections and build new weather stations in areas at high risk for wildfires in an effort to combat increasingly destructive blazes. Southern California Edison told legislative employees this week it wants to …
California’s top utilities regulator on Thursday ordered the embattled power utility Pacific Gas and Electric Co. to implement safety recommendations the agency’s staff outlined in an independent third-party report. The move by the California Public Utilities Commission comes as it …
The “downside credit risks” from the California wildfires are the most pronounced for investor-owned utilities, which could face large liabilities if IOU equipment is found to have ignited the fires. And negative credit implications could emerge for the reinsurance industry …
In the days before California’s deadliest wildfire erupted near a PG&E Corp. power line during a windstorm, the company kept a close eye on the weather, warned customers it might shut off electricity in the area, and finally decided conditions …
PG&E Corp., suspected of starting California’s deadliest wildfire, may soon get help from state lawmakers – just not the help it most wants. An assemblyman plans to introduce a bill in January that would give the state’s largest utility owner …
Roughly one-in-10 insurers have exposures to PG&E bonds, which could potentially used to payout on losses from the California wildfires, according to ratings agency A.M. Best. It was recently determined that a second power line of PG&E Corp. failed the …
