PG&E knew power lines could fail and spark fires, WSJ investigation finds - InvestingChannel

PG&E knew power lines could fail and spark fires, WSJ investigation finds

PG&E knew that hundreds of miles of high-voltage power lines could fail and spark fires but repeatedly failed to perform the necessary upgrades, Katherine Blunt and Russell Gold of Wall Street Journal report, citing documents obtained under the Freedom of Information Act. The failure last year of a transmission line that sparked a wildfire in California, killed 85 people and destroyed the town of Paradise wasn’t an aberration, the documents show, according to the Journal’s investigation. Shares of PG&E are down 2%, or 49c, to $21.40 in late morning trading.