‘Buffett Got it Wrong' on California Fire Risk, PG&E CEO Says [BNN Bloomberg (Canada)]
Pacific Gas & Electric Co. (PCG)
Last pacific gas & electric co. earnings: 5/1 08:21 am
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finance.yahoo.com/quote/pg
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Source: BNN Bloomberg
“Frankly, I think Buffett got it wrong in California,” said Patti Poppe, chief executive officer of PG&E Corp., during the company's investor call Thursday. “California has done the hard work to mitigate both physical and financial risk.” Buffett's most recent letter to Berkshire Hathaway Inc. shareholders expressed a reluctance to invest in the company's western utilities given their exposure to wildfire liability claims. Berkshire's PacifiCorp utility faces hundreds of millions of dollars of liability costs from Oregon wildfires in 2020. Read More: Wildfires Are Upending Some of the Safest Bets on Wall Street PG&E was driven into bankruptcy in 2019 after a series of deadly fires blamed on its equipment. Poppe pointed to measures California has taken since then to cut fire risk. The state has set up a $21 billion wildfire insurance fund to backstop utilities, put shareholder liability caps on utility wildfire claims and required PG&E to carry out fire prevention plans that inc
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- PG&E In Talks with KKR to Sell Minority Stake in Power Business [BNN Bloomberg (Canada)]BNN Bloomberg
PCG
Earnings
- 4/25/24 - Beat
PCG
Sec Filings
- 5/1/24 - Form 4
- 4/30/24 - Form 144
- 4/25/24 - Form 8-K
- PCG's page on the SEC website