PG&E hit with $225-million lawsuit for 2021 Dixie fire damages [Los Angeles Times (CA)]
Pacific Gas & Electric Co. (PCG)
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Source: Los Angeles Times
The complaint, filed Wednesday by Oregon-based Collins Pine Co. and six affiliated timber businesses with property in the Collins Almanor Forest in Plumas and Tehama counties, alleges that PG&E failed to properly manage the forest and electrical equipment to prevent the devastating Dixie fire and that the businesses suffered massive financial damages as a result. A 2022 investigation by the California Department of Forestry and Fire Protection found that the Dixie fire, the second largest in California history, “was caused by a tree contacting electrical distribution lines owned and operated” by the utility company. The timber companies claimed the fire, which burned through nearly 1 million acres in Butte, Plumas, Shasta, Lassen and Tehama counties in the summer and fall of 2021, incinerated approximately 55,000 acres of their property, including “commercial-grade timber, trees of many species and ages (some over 200 years old), roads, structures, bridges, culverts, and many of
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PCG
Earnings
- 4/25/24 - Beat
PCG
Sec Filings
- 4/25/24 - Form 8-K
- 4/25/24 - Form 10-Q
- 4/4/24 - Form ARS
- PCG's page on the SEC website