PG&E may be “adversely affected” by potential losses from an array of deadly infernos that scorched parts of the North Bay wine country, the embattled utility said in a regulatory filing.
“The company currently estimates that it will incur costs in the range of $170 million to $200 million for service restoration and repairs to the company’s facilities, including an estimated $70 million to $80 million in capital expenditures, in connection with these fires,” PG&E said in a filing on Monday with the Securities and Exchange Commission.
The company also acknowledged in the filing that it faces potentially huge financial difficulties, depending on the extent of the company’s responsibility connected to the fires, which killed 43, injured 185 and torched 245,000 acres in the North Bay wine country and nearby regions.