Pacific Gas And Electric: California’s Largest Power Company Files For Bankruptcy

PG&E Files for Bankruptcy

The California wildfire that occurred in November of last year caused threats and damages to the entire place. The aftermath of the wildfire ruined the lives of the people but has destroyed homes and businesses. The duration of the fire was long enough to make it harder for people to keep up with their usual routine. Although the wildfire caused mass damages of homes, buildings, and other material things, one thing that people can still brag about is that their relationship with the community has become stronger. Strangers became friends and eventually treated everyone like family.

California Wildfire Photo By: Daria Devyatkina

This natural disaster had been one of the saddest highlights for most people in 2018 killing about 86 people. Stories of firefighters serving while their own houses are already burned down, families helping out other people even during the loss of a loved one, and businesses giving out to the community even at a financial loss.

Just in this week, Pacific Gas and Electric or PG&E, California’s biggest power company have filed for bankruptcy after accumulating claims in billions from the wildfire. Despite registering bankruptcy protection, PG&E still promises to commit to maintaining their services for their customers during the whole filing process according to a statement made by the company on Tuesday.

The company’s Interim CEO, John Simon said that he would establish a foundation that will be more sustainable in delivering their services to the community. He also added that they are now more determined to take action in building the energy system that the people deserves.

PG&E
PG&E Public Reminders Photo By: PG&E/Facebook

Accordingly, PG&E has been linked to several California wildfires including the recent Camp Fire. The effect of the wildfire also destroyed about 500 businesses, 14,000 homes, including 4,300 buildings that were burned down.

Some of the wildfires that took place in the year 2017 were blamed to PG&E causing a $10 billion equivalent in damages also causing 44 deaths of people. The authorities and investigators found out that the company has been violating codes regarding their power lines which could have generated the wildfires.

The company also reported that in the recent wildfire they found that their power equipment and poles had bullet holes suspecting an attack on their company.

Moreover, this is just one of the after-effects of the natural disaster as everyone—including the most powerful ones—are trying to get back on track. There may be more to what was lost that what can be gained for some but it is time to face the realities of life.

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