Topline: California’s largest utility, Pacific Gas and Electric Company, was directly responsible for igniting the deadliest wildfire in the state’s history, a state agency ruled Wednesday. The finding opens up the door for the utility to be on the hook for more than $10 billion in damages and even possible criminal charges. In a statement, PG&E spokesman Paul Doherty said that while the company hasn't reviewed the state's report, it is "consistent with the company's previous statements," adding that it's "fully cooperating with all ongoing investigations concerning the Camp Fire." "Our hearts go out to those who have lost so much, and we remain focused on supporting them through the recovery and rebuilding process," Doherty said. More trouble: PG&E had already admitted its equipment might be the cause of the fire, and filed for bankruptcy protection earlier this year. Since the fire, the company’s profits have plummeted 70%. The utility is also being investigated by the SEC over whether it properly disclosed and accounted for losses related to wildfires, according to KQED. In another sign of upheaval, PG&E replaced its CEO and most of its Board of Directors in early April. Key P.O.V: “Now the day of reckoning has come,” Frank Pitre, a lawyer for victims who is based in the Bay Area, told The New York Times. “If PG&E wants to do the honorable thing, they should stop spending tens of millions of dollars in bankruptcy court and begin putting together the plan to compensate the victims.”
Pacific Gas and Electric Company (PG&E) was directly responsible for November 2018's deadly California wildfire, state investigators have concluded. PG&E could have to pay $10bn in damages and may face criminal charges after state investigators ruled the wildfire was caused by PG&E's electricity transmission lines. The wildfire left 18,000 people dead and burned down 85 buildings. The ruling came as part of a larger criminal investigation, which has not yet concluded. PG&E has filed for bankruptcy protection and its profits have fallen by 70% since the fire.