"California fire investigators on Thursday concluded that a major 2017 wildfire was caused by privately owned electrical equipment, prompting the state’s new governor to estimate that PG&E Corp’s potential wildfire liabilities could be almost cut in half.

Investors in the utility, which is preparing to file for bankruptcy, initially sent its shares up 80 percent, but PG&E said it still faced huge potential liabilities from other fires. That would include the Camp Fire, the state’s deadliest, in 2018.

“Regardless of today’s announcement, PG&E still faces extensive litigation, significant potential liabilities and a deteriorating financial situation,” the utility said in a statement."

Nichola Groom and Sharon Bernstein report for Reuters January 24, 2019.

https://www.reuters.com/article/us-pg-e-us-wildfire/pge-cleared-of-liabi... [2]