PG&E says accrual for Dixie wildfire increased to $1.6B

PG&E CEO Patricia Poppe said on this morning’s earnings call, “So we haven’t actually tapped the Wildfire fund. So on the Dixie accrual, we did increase the accrual by $425 million. We have an accrual of a $1.6 billion in total at this point in time. But what’s important is that you can’t tap the fund until you actually until we have actually paid out a billion dollars in settlement. So to date, we have a $730 million, we’ve settled 700 and around $730 million and we’ve paid out $575 million. So we have a ways to go to fully paying out a billion dollars. But, as you the statute of limitations on Dixie actually runs out in October of 2024. So we are in preparing for that filing as we speak and working with the fund on how to ensure as smooth of a process as possible.” Shares of PG&E are down 3% to $15.70 following the Q3 report.