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PG&E operating loss significantly improves to $17 million in October
By Caroline Salls
Pittsburgh, Nov. 26 – PG&E Corp. reported a $17 million operating loss for October on $1,378,000,000 in total operating revenue, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
In comparison, PG&E posted a $2,568,000,000 operating loss for September on $1,479,000,000 in operating revenue.
The September operating loss included $2,548,000,000 in wildfire claims, net of insurance.
Net income for October was $2 million, improving significantly from a $1,861,000,000 September net loss.
The company had $2,684,000,000 in cash and cash equivalents as of Oct. 31, down from $2.97 billion at the end of September.
The electric and natural-gas utility is based in San Francisco. The company filed bankruptcy on Jan. 29, 2019 in the U.S. Bankruptcy Court for the Northern District of California under Chapter 11 case number 19-30088.
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