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PG&E will initiate blackouts this summer, faces SEC probe and other legal actions

The Pacific Gas and Electric Company (PG&E), one of California’s largest utilities, said it will begin shutting off electricity to high-risk counties during the dry season this year. The blackouts may last up to several days and, according to a California statute, the utility is not on the hook for whatever costs that communities accrue during blackouts (e.g., spoiled food, business slow-downs and generator costs). The blackouts come after one of the worst years on record for wildfires and deaths in California. PG&E is being held responsible for several wildfires due to faulty and unsafe equipment. The company sought bankruptcy information, citing USD 30 billion in potential liabilities.

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