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PG&E Faces Deepening Fire Crisis With $12 Billion Market Wipeout

Nov. 15, 2018, 3:51 PM

The implications are unsettling: 15 minutes before a fire was reported among the trees north of Sacramento—the spark that would explode into the deadliest blaze in California history—a PG&E power line in the area went offline.

A week later, at least 56 people have been found dead—and PG&E Corp. is facing its gravest crisis yet over whether its equipment has ignited another devastating wildfire.

The exact cause of the fast-moving Camp Fire may not be known for months or even years. But in Sacramento and on Wall Street, a reckoning for PG&E may finally be at hand.

After limping out ...