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PG&E posts $3.72 billion June loss, $3.9 billion in wildfire claims
By Caroline Salls
Pittsburgh, Aug. 16 – PG&E Corp. reported a $3.72 billion operating loss for June, which includes $3.9 billion in wildfire-related claims, net of insurance, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Northern District of California.
Operating revenues for June were $1,132,000,000.
In comparison, PG&E posted $24 million of operating income for May on $1,306,000,000 in operating revenue.
The net loss for June was $2.67 billion, declining from $50 million of May net income.
The company had $3,459,000,000 in cash and cash equivalents as of June 30, up from $3,191,000,000 at the end of May.
The electric and natural-gas utility is based in San Francisco. The company filed bankruptcy on Jan. 29, 2019 under Chapter 11 case number 19-30088.
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