PG&E : Big Blackout Is Only the Beginning | MarketScreener

PG&E : Big Blackout Is Only the Beginning | MarketScreener
"PG&E Corp.'s decision to shut off power to more than two million Californians this week represents a new reality: It now plans to pull the plug as a desperation measure whenever its equipment threatens to spark destructive and potentially deadly wildfires.
...The Wall Street Journal detailed in April how PG&E intended to use the outages, known as public safety power shut-offs, to reduce wildfire risk, a strategy that carries consequences for medically vulnerable populations who rely on electric devices to survive, and businesses that could lose customers and inventory.
Such outages are unlikely to end soon because utilities are liable under California law for wildfire damage caused by their equipment, even if they aren't negligent.
That makes fires a serious threat to drive the companies into insolvency..."
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