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California's largest utility is preparing to declare bankruptcy after a string of wildfires in 2017 and 2018 left it with $30 billion or more in potential liabilities. The announcement comes a day after CEO Geisha Williams stepped down.
"PG&E currently plans to file for Chapter 11 on or about January 29, 2019," the company announced Monday. "We do not expect any impact to natural gas or electric service for our customers as a result of the Chapter 11 process."