chapter filing: But the bankruptcy was seen as a possible glimpse of the financial toll that could lie ahead as a result of global warming, which scientists say is leading to fiercer, more destructive blazes and longer fire seasons. ; In addition to leading to higher bills and smaller wildfire damages, it could jeopardize California's ambitious program to switch entirely to renewable energy sources, according to The Japan Times. PG&E cited hundreds of lawsuits from victims of fires in 2017 and 2018 when it announced earlier this month that it planned to file for bankruptcy. The Chapter 11 filing allows PG&E to continue operating while it puts its finances in order. The blazes include the U.S.'s deadliest wildfire in a century the one in November that killed at least 86 people and destroyed 15,000 homes in Paradise and surrounding communities. Last week, however, state investigators determined that the company's equipment was not to blame for a 2017 fire that killed 22 people in Northern California wine country. The cause is under investigation, but suspicion fell on PG&E after it reported power line problems nearby around the time the fire broke out.
(news.financializer.com). As
reported in the news.
Tagged under chapter filing, pg e topics.