The California PUC is proposing a settlement that would “penalize” PG&E for the 2022 Mosquito Fire. During an investigation, the CPUC discovered that PG&E violated state rules for overhead line design, construction, and maintenance.
The payout: Under the agreement, PG&E would hand $21M in shareholder funds to the state. It would also pay $1M for a third-party review of its transmission inspection practices.
Mounting costs: This settlement would add to the utility’s “significant” financial burden from recent wildfires. PG&E was liable for roughly $1B for the 2019 Kincade fire and $2B for the 2021 Dixie fire.
Molly Glick
Energy Central Team
Tue, Jul 14