Part 3/5:
The impact of these wildfires on PG&E's financial status is severe. The utility is already under the weight of approximately $1.7 to $1.8 billion in liabilities from wildfires in the previous year alone. These financial burdens beg the question: can PG&E survive another wave of catastrophic events without facing bankruptcy?
As the week progressed, PG&E's share price exhibited significant volatility, plummeting nearly 40% and reaching a 15-year low. However, on Friday, a sudden and substantial rebound saw the stock rise by over 30%. This fluctuation mainly stemmed from comments made by the president of the California Public Utilities Commission, who suggested that bankruptcy for such a pivotal utility might not be in the best interest of the state.