July 25, 2019 / 1:10 PM / in 7 months

PG&E estimates $4.8 bln of initial contribution to California Wildfire fund

July 25 (Reuters) - Power producer PG&E Corp on Thursday said bit.ly/32Nn2Qg its initial contribution to California Wildfire Fund would be about $4.8 billion, and annual contribution about $193 million.

The company said participation in the fund would have a material impact on its financial results.

Earlier this month, California Governor Gavin Newsom signed a bill to create a $21 billion fund to help bankrupt PG&E and other investor-owned power companies in the state to cover liabilities arising from future wildfires caused by their equipment. (Reporting by Arundhati Sarkar in Bengaluru; Editing by Shinjini Ganguli)

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