By The Associated Press | PUBLISHED: November 15, 2018 at 10:31 pm | UPDATED: November 16, 2018 at 4:25 am By Jonathan J. Cooper, Cathy Bussewitz and Garance Burke | Associated Press SACRAMENTO — A utility facing severe financial pressure amid speculation its equipment may have sparked a deadly Northern California wildfire asked U.S. energy regulators last month for permission to raise its customers’ monthly bills to harden its system against wildfires and deliver a sizable increase in profits to shareholders. In an October filing with the Federal Energy Regulatory Commission, Pacific Gas & Electric Co. laid out a variety of dangers confronting its transmission lines running through Northern California, saying its system faced a higher risk of wildfires than any other utility. “The implications of PG&E’s exposure to potential liabilities associated with wildfires are dramatically magnified,” the filing said. “Overcoming the negative financial impact of any significant damages that might ultimately be attributed to PG&E will require an ongoing commitment of capital from investors.” San Francisco-based PG&E — one of the nation’s largest electric utilities serving most of Northern and central California — made the request a month before the Camp Fire broke out Nov. 8 and quickly ballooned into… Read full this story
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