What utility's bankruptcy could mean for climate, victims
NEW YORK (AP) — The nation's largest utility has filed for bankruptcy in what some see as a test of how companies will deal with the fallout from climate change. Here are some questions and answers about what the bankruptcy could mean:
WHY DID PACIFIC GAS & ELECTRIC CORPORATION FILE FOR BANKRUPTCY?
Pacific Gas & Electric Corp. is facing billions of dollars in potential liabilities in the wake of deadly wildfires, and says it does not have enough insurance coverage to handle all the potential claims. California law requires utilities to pay damages for wildfires if their equipment caused the blaze, even if the utilities were not found negligent.