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Legislation aims to shield PG&E from fire liability: 'Bankruptcy is not an option'
Utility Dive: While the Camp Fire is contained, tackling the financial impacts on PG&E is a delicate topic. The fires have wreaked havoc on the utility's shareholders, raised the specter of bankruptcy and caused regulators to mull breaking up the company, leaving little opportunity for lawmakers to wait for a more appropriate-looking time.
This month, shares of PG&E fell off a cliff when California's fire protection agency raised the possibility that the Camp Fire may have been caused by the utility's equipment. Shares began in November at almost $50, but closed yesterday at $25/share.
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