July 25, 2019 / 1:09 PM / 2 months ago

PG&E estimates $4.8 bln of initial contribution to California Wildfire fund

July 25 (Reuters) - Power producer PG&E Corp on Thursday said bit.ly/32Nn2Qg its initial contribution to California Wildfire Fund would be about $4.8 billion, and annual contribution about $193 million.

The company said participation in the fund would have a material impact on its financial results.

Earlier this month, California Governor Gavin Newsom signed a bill to create a $21 billion fund to help bankrupt PG&E and other investor-owned power companies in the state to cover liabilities arising from future wildfires caused by their equipment. (Reporting by Arundhati Sarkar in Bengaluru; Editing by Shinjini Ganguli)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below