Pacific Gas & Electric Co (PCG)

[barnyarddog]

Aug-05-21
PG&Es corporate bonds take a lashing as Dixie Fire rages

Wildfire Linked to PG&E Ravages California Gold-Rush Town
Bloomberg

We lost Greenville: Wildfire devastates historic California town

Aug-03-21
PG&E says its equipment have have sparked blaze that merged with bigger wildfire
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...No causes have yet been identified for any of the unprecedented wildfires, which continue to be the subject of ongoing investigations.

However, California is one of the only states in the country in which courts have applied inverse condemnation to events caused by utility equipment. This means that if a utility’s equipment is found to have been a substantial cause of the damage in an event such as a wildfire – even if the utility has followed established inspection and safety rules – the utility may still be liable for property damages and attorneys’ fees associated with that event.

“After extensive consideration and in light of the uncertainty associated with the causes and potential liabilities associated with these wildfires as well as state policy uncertainties, the PG&E boards determined that suspending the common and preferred stock dividends is prudent with respect to cash conservation and is in the best long-term interests of the companies, our customers and our shareholders,” said PG&E Corporation Chair of the Board Richard C. Kelly.

https://investor.pgecorp.com/shareholders/dividend-information/default.aspx