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PG&E adds to losses; reportedly aware of power line problems in fire area

Published 11/13/2018, 12:49 PM
© Reuters.  PG&E adds to losses; reportedly aware of power line problems in fire area
PCG
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  • PG&E (PCG -1.1%) extends three days of losses that have knocked a third off the share price, as scrutiny rises over the role some of its power lines may have played in northern California's deadly wildfire that is only 30% contained.
  • Cal Fire says the so-called Camp Fire, raging 175 miles north of San Francisco, has expanded by another 8K acres to 125K acres and the death toll has reached 42 people, the most on record from a California wildfire, with 228 people listed as missing.
  • PG&E said yesterday that it experienced an outage on a transmission line in the Camp Fire area early in the morning of last Thursday shortly before the fire stated.
  • A property owner near the tiny town of Pulga, near the neighboring town of Paradise that later was incinerated by the fire, said she received an email from PG&E that crews needed to come to her property to work on high-power lines because of "problems with sparks."
  • Now read: UGI Corporation 2018 Q4 - Results - Earnings Call Slides


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