If any?The largest utility in the United States, Pacific Gas & Electric Corp (PG&E), filed for bankruptcy on Tuesday as it faces billions of dollars in potential damages from wildfires in California.
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The company cited hundreds of lawsuits from victims of that blaze and others in 2017 and 2018 when it announced this month that it planned to file for bankruptcy. The fires included the nation's deadliest in a century - a November blaze that killed at least 86 people and destroyed 15,000 homes in Paradise, California and surrounding communities.
The bankruptcy filing immediately puts a halt to the wildfire lawsuits and consolidates them in bankruptcy court, where legal experts say victims will likely receive less money.
alJazeera
Burn you out and raise your rates.PG&E faced additional pressure not to move forward with the bankruptcy filing after state fire investigators said a private electrical system, not utility equipment, caused the wine country blaze that destroyed more than 5,600 buildings in Sonoma and Napa counties in October 2017.
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Legal experts say the bankruptcy will likely take years to resolve and will result in higher rates for PG&E customers. The company provides natural gas and electric service to 16 million people over 18 million hectares in Northern and Central California.
It's not their first rodeo.
The utility also filed for bankruptcy in April 2001 near the height of an electricity debacle marked by rolling blackouts and the manipulation of the energy market.
PG&E emerged from bankruptcy three years later but obtained billions of dollars in higher payments from ratepayers.
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