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California regulator proposes PG&E pay $155M fine for 2020 wildfire (NYSE:PCG)

by Index Investing News
October 26, 2022
in Financial
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My Photo Buddy/iStock via Getty Images

California’s Public Utilities Commission proposed Tuesday that PG&E (NYSE:PCG) pay a $155.4M fine and take other corrective measures for violations related to the 2020 Zogg wildfire that destroyed 200 homes and killed four people.

PG&E (PCG) already faces criminal charges in the fire, which state officials said began when a pine tree in Shasta County fell into one of the utility’s power lines.

The CPUC said the utility failed to remove two pine trees marked for removal, resulting in one falling; it ordered the company to submit a corrective action plan to ensure trees marked for removal are logged into a database and removed.

In June, PG&E (PCG) pleaded not guilty to four counts of involuntary manslaughter charged by the Shasta County district attorney’s office.



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