SAN FRANCISCO (AP) – Pacific Gas & Electric is reporting substantial losses for the third quarter driven by catastrophic wildfires.
The company anticipates those costs could escalate to as much as $6.3 billion.
California’s largest utility swung to a loss of $1.62 billion, after a profit of $564 million in the same period last year.
The bankrupt company is facing criticism for blackouts intended to limit wildfires, but that have left millions without power.