PG&E says if found responsible for Camp Fire, cost would exceed insurance coverage
PARADISE, Calif. -- There are new developments involving the deadly Camp Fire burning in Butte County and PG&E.
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The utility giant says if its equipment is found responsible for starting the Camp Fire, the cost of the damage would exceed its insurance coverage.
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Southern California Edison reported a "disturbance" at one of their substations, two minutes before Cal Fire says the Woolsey Fire started nearby.
Fifteen minutes before the deadly Camp Fire started in Butte County, PG&E detected a transmission line outage near the fire's origin.
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Here's what PG&E wrote in a filing to the Securities and Exchange Commission on Tuesday:
"While the cause of the Camp Fire is still under investigation, if the Utility's equipment is determined to be the cause, the Utility could be subject to significant liability in excess of insurance coverage that would be expected to have a material impact on PG&E Corporation's and the Utility's financial condition, results of operations, liquidity, and cash flows."
To read PG&E's filing to the Securities and Exchange Commission, visit this page.
For more stories related to the deadly Camp Fire burning in Butte County, visit this page.
