Wildfires are posing new financial risks for utilities outside of California as victims of recent fires possibly sparked by power equipment seek compensation for their losses.
Pacific Power, an Oregon utility owned by PacifiCorp, a unit of Warren Buffett’s Berkshire Hathaway Inc., faces more than $1 billion in potential liability costs from lawsuits related to a spate of fires that swept the state in 2020. Those incidents killed at least nine people, destroyed thousands of homes and burned more than a million acres of land and timber.
To Read the Full Story
