fires PG&E warning to investors PG&E Corp. has about $800 million in insurance to cover claims in case its subsidiary Pacific Gas and Electric Co. is found liable for any Northern California fires, the company reported Friday in a regulatory filing. The filing with the U.S. Securities and Exchange Commission noted that though the cause of the fires has not been determined, state fire officials are investigating whether PG&E’s power lines played a role. PG&E Corp. stock has dropped about 23 percent since the fires erupted on Oct. 8, closing Monday at $53.43. Moody’s Economy.
NYS Entity Status
NYS Filing Date
FEBRUARY 19, 2014
NYS DOS ID#
NYS Entity Type
DOMESTIC BUSINESS CORPORATION
2014 - G & E ELECTRICAL POWER CORP.
Around the Web
- Business News Roundup, Oct. 17
By Chronicle News Services - Monday Oct 16, 2017
- California wildfires: PG&E warns investors of possible financial hit
By David R. Baker - Monday Oct 16, 2017
PG&E Corp. has about $800 million in insurance to cover claims in case its subsidiary Pacific Gas and Electric Co. is found liable for any of the fires currently burning through Northern California, the company reported Friday in a regulatory filing. The filing with the U.S. Securities and Exchange Commission noted that while the cause of the fires has not yet been determined, California fire officials are investigating whether PG&E’s power lines played a role. PG&E Corp. stock has dropped about 23 percent since the fires erupted on Oct. 8, closing Monday at $53.43. PG&E has been sued over wildfire damage before.
- Utility scrutinized as California wildfire victims sue
By ELLIOT SPAGAT, Associated Press - Tuesday Oct 17, 2017
SAN DIEGO (AP) — Northern California homeowners allege in a lawsuit filed Tuesday that Pacific Gas & Electric Co. failed to adequately protect its power lines before the region's deadly wildfires, a theory that state investigators are considering as they try to determine the cause.The lawsuit in San Francisco Superior Court on behalf of Santa Rosa homeowners Wayne and Jennifer Harvell says drought-like conditions over the summer put fire dangers "at an extraordinarily high level," particularly after heavy winter rains increased vegetation. It says PG&E failed to trim and remove vegetation as it should have.PG&E Corp.
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The company has over 108,000 delivery vehicles deployed on routes around the world. More than 770 of those are powered by electric or hybrid motors, and UPS wants to add to that number without actually buying any new vehicles.
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