California utility PG&E is facing billions of dollars in liabilities related to deadly wildfires, and now it may be considering bankruptcy (PCG)

Associated Press/Ringo H.W. Chiu

• California utility company PG&E is exploring filing some or all of its business for bankruptcy protection.
• That's due to the billions of dollars in liabilities it's facing related to fatal wildfires in 2018 and 2017, people familiar with the matter said on Friday.
• A potential bankruptcy filing is seen only as a contingency because the utility, which provides electricity, gas, and other services throughout California, could take a significant financial hit for the fourth quarter of 2018 because of the devastating California wildfires.

(Reuters) - California utility company PG&E is exploring filing some or all of its business for bankruptcy protection as it faces billions of dollars in liabilities related to fatal wildfires in 2018 and 2017, people familiar with the matter said on Friday.

The company is considering the move as a contingency, in part because it could soon take a significant financial charge for the fourth quarter of 2018 related to liabilities from the blazes, the sources said.

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