PG&E Corp. said Thursday that it believes it's "probable" that the utility's equipment will be found to be the source of the 2018 Camp Fire, the deadliest in California's history.
"Although the cause of the 2018 Camp fire is still under investigation, based on the information currently known to PG&E Corporation and reported to the CPUC and other agencies, PG&E Corporation believes it is probable that the Utility's equipment will be determined to be an ignition point of the 2018 Camp fire," the company said in a government filing.
Based on the early findings of the California Public Utilities Commission, or CPUC, the company said it is including a $10.5 billion pretax charge related to third-party claims in connection with the 2018 Camp Fire in its full-year and fourth-quarter 2018 financial results.
The company said Thursday its full-year net losses were $6.9 billion, or $13.25 per share, compared with net income of $1.6 billion, or $3.21 per share in 2017. For the fourth quarter of 2018, the company said net losses were $6.9 billion, or $13.24 per share, compared with net income of $114 million in the fourth quarter of 2017.