Pacific Gas & Electric Company (NYSEAMERICAN: PCG-E) aims to put 10,000 miles of power lines to prevent its fraying grid from sparking wildfires when electric equipment collides with millions of trees and other vegetation across drought-stricken California.
On July 21, the daunting project declared plans to put in about 10% of PG&E’s (Pacific Gas & Electric) distribution and transmission lines at an assumed cost of $15 billion to $30 billion, based on how much the undertaking currently costs. Moreover, the project speculates that it will find paths to keep the final bill at the lower end of those calculations. Extensive costs will likely be supported by PG&E consumers, whose electricity prices are already among the highest in the United States.
Pacific Gas & Electricity PCG – 1.18% came forward on its safety responsibility just days after notifying regulators a pine tree of about 70 feet ousted on one of its power lines provoked a crucial fire in Butte Country. Furthermore, in 2018, the same rustic area about 145 miles northeast of San Francisco where another fire aroused by its equipment killed over 80 people and demolished thousands of homes.
It started on July 13 in a remote area of Butte Country, and the Dixie Fire stirred northeast through the Sierra Nevada. By Wednesday, the fire stretched a 133 Square mile area, urging the Plumas County sheriff to order evacuations along the west shore of popular Lake Almanor.
The backlash to PG&E’s potential detriment for the Dixie Fire stimulated the firm’s recently hired CEO, Patricia Poppe, to disclose the plan for underground power lines several months earlier than she said she planned.
CEO of PG&E’s Statement
Because of the enormous expenses involved, previous PG&E regimes have staunchly avoided plans to put in long stretches of electricity lines. However, on Wednesday, Poppe said to reporters that she realized quickly after joining PG&E that moving power lines underground is the best option to eliminate both the utility and the 16 million people who believe in it for power.