Utility in California Expecting $200M in Costs for Power Restoration after Fires

A California utility expects costs to be as much as $200 million for restoring power after last month’s devastating wildfires.

The San Francisco Chronicle reported Friday that Pacific Gas & Electric Co. chief Jason Wells told investors he will seek to recover that cost from customers.

California fire officials are investigating whether sparks from the utility’s power lines started the wildfires on Oct. 8. State utility regulators are expected to rule next week whether the utility can raise rates to cover its expenses in the fires.

The Northern California wildfires killed 43 people and destroyed nearly a least 8,900 homes and other structures.

Related:

• Insured Losses from California Wildfires Now at $3.3 Billion
• Insured Loss Estimates from California Wildfires Now up to $8 Billion
• California’s Wine Industry Taking Stock of Losses After Wildfires
• Northern California Wildfires: Insurance Industry Ready to Assist With ‘Massive’ Recovery
• Early Data Shows Insured Losses from California Wildfires Already at $1B and Growing
• All Wildfire Damage to California Wineries May Not be Covered by Insurance
• Losses from California Wildfires Could Reach up to $6 Billion, Experts Say