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PG&E Costs from San Bruno Fire Reach $915 Million

Despite incurring millions of dollars in costs related to the 2010 San Bruno pipeline explosion, the utility continues to turn a profit.

Nasdaq has reported that PG&E continued to turn a profit in the third quarter despite incurring millions of dollars in costs related to the 2010 San Bruno pipeline explosion.

The utility reported an 81 percent increase in profit from last year, when factoring in charges from the pipeline explosion and environmental cleanup costs, according to Nasdaq.

In all, PG&E has incurred about $915 million in costs since the San Bruno fire, which left eight people dead and 38 homes destroyed. All of those costs have been paid for by shareholders.

Nasdaq also reported on the company's outlook about the upcoming trial stemming from the disaster:

Tony Earley, chairman, CEO and president of PG&E, said that the company is continuing efforts to reach at a settlement of the outstanding regulatory issues related to its gas pipeline operations.

This is despite a recent proposed decision on the company's pipeline safety enhancement plan that would disallow recovery of significant costs, Earley added.

hamptoncourt November 15, 2012 at 07:22 PM
PG&E has been very attentive to us. We live on Hampton ct and almost lost a love one who was walking very near-by the explosion. PG&E was with us on our recovery and even help us with the injury to our dog. Thank-you PG&E

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