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PG&E pulls back as no determination made on cause of wine country fires
Feb. 1, 2018 1:02 PM ET|By: Carl Surran, SA News Editor
PG&E (PCG -0.4%) drifts back into the red after earlier jumping as much as
11% in response to a rumor that the California Department of Forestry and
Fire Protection had determined that last October's wildfires were caused by
electrical equipment owned and installed by third parties and not by PG&E.
“It’s false information. Cal Fire hasn’t released any findings on the
wine country fires. All the fires are still under investigation," says a Cal
Fire spokesperson.
Shares of Edison International (EIX -0.7%), AES Corp. (AES +0.3%) and Sempra
Energy (SRE -0.4%) also turn lower or trim gains after moving higher.
Source: Bloomberg First Word |