Utility's filing marks the beginning of a long and expensive process that will likely leave ratepayers, wildfire victims, creditors and shareholders ultimately unhappy.
PG&E Corp, owner of the largest U.S. power utility, filed for bankruptcy protection on Tuesday in anticipation of liabilities in excess of $30 billion from the deadliest wildfires in California's history.
Pacific Gas and Electric said it plans to file for bankruptcy protection amid potentially vast liabilities resulting from the deadly California wildfires.
