Saturday, September 11, 2010

Uncertainty Now Surrounds PG&E (NYSE:PCG)

Pacific Gas & Electric Co. (NYSE:PCG) finds itself in the unenviable position of waiting for the results of an investigation of the natural gas explosion in San Bruno, which so far as claimed the lives of four people and injured over 50.

The National Transportation Safety Board has began an investigation into the accident.

U.S. Transportation Secretary Ray LaHood said investigators are already on the scene of the devastation.

The California Public Utility Commission has direct jurisdiction over the accident, and will apparently work with the National Transportation Safety Board in the investigation.

Pacific's liability will be determined by the outcome of the investigation, and if negligent in some way, will cost them a lot of money.

No comments:

Post a Comment