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The energy holding company owns the utility Pacific Gas & Electric Company, which supplies energy to Northern and Central California. In January 2019, the utility and the holding company filed for Chapter 11 bankruptcy in the face of costs related to catastrophic wildfires in 2017 and 2018 that had been sparked by PG&E power lines. Terms of a bankruptcy settlement were still under negotiation in mid-2020.
David Paul Morris—Bloomberg via Getty Images
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