PG&E sees no upper limit for wildfire liability costs

摘要

PG&E Corp. CEO and President Geisha Williams said June 21 the company's total cost obligation for damaging wildfires in Northern California in October 2017 cannot be estimated because of the state's "very bad policy" of strict liability, which it is asking legislators, judges and regulators to correct. PG&E and its utility subsidiary, Pacific Gas and Electric Co., face exposure to billions of dollars in wildfire liability because the state's courts have held to a doctrine of "inverse condemnation" that deems utilities responsible for wildfire damages if their equipment is tied to the cause of fires regardless of whether utilities take all reasonable precautions and meet all regulatory requirements.