PG&E Corp. on Aug. 9 reported a 2019 second-quarter net loss of $2.6 billion, compared with a net loss of $984 million in the second quarter of 2018, and listed a number of wildfire-related expenses as the primary driver of the losses.

The parent company of embattled utility Pacific Gas & Electric said second-quarter losses were caused by cleanup and repair activities following the 2018 Camp Fire; legal and other costs related to that fire and the 2017 Northern California wildfires; enhanced electric-asset inspections; and financing, legal and other costs related to its ongoing reorganization process.

PG&E attributed about $2 billion of the loss to the Camp Fire, most of which—about $1.9 billion—was from third-party claims, while a relatively small amount—about $70 million—was tied to cleanup and repair activities associated with the fire.

Electricity and natural gas sales decreased over the year. PG&E sold about 18 million kWh of electricity in the second quarter, down from about 18.7 million kWh in second quarter 2018, and about 157 Bcf of natural gas, down from 169 Bcf in the same period in 2018.

The investor-owned utility said it has completed inspections of most of its electric infrastructure in high-fire-threat areas, including about 50,000 electric transmission structures, 700,000 distribution poles and 222 substations, all on about 5,500 miles of transmission line and about 25,000 miles of distribution line.

“We recognize we are operating from a deficit when it comes to public trust, and to regain that trust, we must sustain excellent operational performance day after day, month after month, year after year,” PG&E Corp. CEO Bill Johnson said in the company’s earnings statement on Aug. 9. His statement echoed former PG&E President Chris Johns, who after the San Bruno pipeline explosion in 2010 said, “We’re not in the position to have our customers grant us trust. We have to earn it.”

PG&E will contribute an additional $4.8 billion to the state’s wildfire fund developed in AB 1054, with an annual contribution of about $193 million. The initial contribution would be payable upon the company’s emergence from Chapter 11 reorganization.

PG&E Corp. on Aug. 9 reported a 2019 second-quarter net loss of $2.6 billion, compared with a net loss of $984 million in the second quarter of 2018, and listed a number of wildfire-related expenses as the primary driver of the losses.

The parent company of embattled utility Pacific Gas & Electric said second-quarter losses were caused by cleanup and repair activities following the 2018 Camp Fire; legal and other costs related to that fire and the 2017 Northern California wildfires; enhanced electric-asset inspections; and financing, legal and other costs related to its ongoing reorganization process.

PG&E attributed about $2 billion of the loss to the Camp Fire, most of which—about $1.9 billion—was from third-party claims, while a relatively small amount—about $70 million—was tied to cleanup and repair activities associated with the fire.

Electricity and natural gas sales decreased over the year. PG&E sold about 18 million kWh of electricity in the second quarter, down from about 18.7 million kWh in second quarter 2018, and about 157 Bcf of natural gas, down from 169 Bcf in the same period in 2018.

The investor-owned utility said it has completed inspections of most of its electric infrastructure in high-fire-threat areas, including about 50,000 electric transmission structures, 700,000 distribution poles and 222 substations, all on about 5,500 miles of transmission line and about 25,000 miles of distribution line.

“We recognize we are operating from a deficit when it comes to public trust, and to regain that trust, we must sustain excellent operational performance day after day, month after month, year after year,” PG&E Corp. CEO Bill Johnson said in the company’s earnings statement on Aug. 9. His statement echoed former PG&E President Chris Johns, who after the San Bruno pipeline explosion in 2010 said, “We’re not in the position to have our customers grant us trust. We have to earn it.”

PG&E will contribute an additional $4.8 billion to the state’s wildfire fund developed in AB 1054, with an annual contribution of about $193 million. The initial contribution would be payable upon the company’s emergence from Chapter 11 reorganization.