- PG&E (NYSE:PCG) and its Pacific Gas and Electric utility say they will record a $2.5B pre-tax charge in the current quarter, related to last year's northern California wildfires.
- PG&E CEO and President Geisha Williams says recording the charge was made necessary because of California’s "flawed policy of inverse condemnation and demonstrated the urgent need to reform the policy."
- California's Department of Forestry and Fire Protection earlier this month said its investigators found evidence of alleged violations of state law by PG&E and referred the cases to county prosecutors for further review.