PG&E says it still faces 'extensive litigation' even after Cal Fire announcement
Pacific Gas and Electric Company issued the following statement in response to the release of information by the California Department of Forestry and Fire Protection regarding the October 2017 Tubbs wildfire: "Without question, the loss of life, homes and businesses during these devastating wildfires is heartbreaking, and we remain focused on helping affected communities recover and rebuild. The safety of our customers and the communities we serve is our most important responsibility, and we are committed to assessing our infrastructure to further enhance safety and help protect all of the customers we serve from the ever-increasing threat of wildfires. CAL FIRE has completed its investigation of the 2017 Tubbs Fire and concluded that PG&E facilities did not cause the fire. The devastating and unprecedented wildfires of 2017 and 2018 have had a profound impact on our customers, employees and communities. Regardless of today's announcement, PG&E still faces extensive litigation, significant potential liabilities and a deteriorating financial situation, which was further impaired by the recent credit agency downgrades to below investment grade. Resolving the legal liabilities and financial challenges stemming from the 2017 and 2018 wildfires will be enormously complex and will require us to address multiple stakeholder interests, including thousands of wildfire victims and others who have already made claims and likely thousands of others we expect to make claims."