January 23, 2019 / 11:24 AM / 3 months ago

PG&E expects to spend about $6.6 billion in 2019

Jan 23 (Reuters) - U.S. power company PG&E Corp said bit.ly/2T5NcbG on Wednesday it expected capital expenditure of about $6.6 billion in 2019 and $6.9 billion in 2020.

PG&E, which provides electricity and natural gas to 16 million customers in northern and central California, faces widespread litigation, government investigations and liabilities related to wildfires that could potentially exceed $30 billion.

The company said on Tuesday it secured $5.5 billion in financing from four banks as it prepares to file for Chapter 11 bankruptcy protection. (Reporting by Debroop Roy in Bengaluru; Editing by Arun Koyyur)

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