PG&E, the California utility group that ranks among the largest US buyers of renewable power, will declare bankruptcy later this month after failing to get a grip on its spiraling liabilities stemming from recent catastrophic wildfires in the state.
San Francisco-based PG&E Corp., whose Pacific Gas & Electric unit delivers energy across the northern two-thirds of California, has been edging towards crisis for several months after coming under investigation for the role one of its high-voltage transmission lines may have played in 2018’s Camp Fire – the deadliest and most destructive wildfire in California’s history.
