PG&E’s regulatory filing adds to the utility’s involvement with the Camp Fire, which has burned more than 150,000 acres and killed 77 people since igniting in early November.
PG&E said that its costs for the wildfire season are likely to exceed its insurance coverage in documents filed with the Securities and Exchange Commission. The company has withdrawn all of its revolving credit lines, a move that often anticipates a bankruptcy filing or credit downgrade.
PG&E has tried to minimize fire risk on a windy days by de-energizing lines. It began notifying customers before Nov. 8 that it would do so again, the Los Angeles Times reported, but ultimately did not take the action, saying conditions “did not warrant” it.
PG&E lines were found responsible for 16 fires last year and an investigation into the Tubbs Fire, which killed 24, is still pending.