CLIMATE ONE: How Climate Broke California’s Biggest Utility
Energy giant PG&E has admitted that faulty power lines lit the spark for California’s most deadly wildfire ever. The company now faces billions in liabilities and has declared bankruptcy. What’s next for PG&E – and for California’s energy future?
Commonwealth Club of California Podcast
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Show Notes
PG&E has had a bad few years. A series of record-breaking wildfires culminating with 2018’s devastating Camp Fire propelled the California utility giant into lawsuits, $30 billion in liabilities and, ultimately, bankruptcy. Under new state laws, regulated utilities will have a hard time avoiding blame in fires where their equipment is involved—so what’s ahead for PG&E’s peers and their shareholders when a deadly blaze could spell bankruptcy? What happens when the California dream of living near nature is in direct conflict with disruptive tragedies fueled by climate change?
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