PG&E outages could cost California more than $2 billion

PG&E's decision to turn the power off for nearly 2.7 million people as a precautionary measure to prevent California wildfires could cost the state as much as $2.5 billion, CNBC reports.

What's happening: The total will depend on whether the economic impact is solely based on residential customers, estimated at $65 million, or if commercial and industrial costs will be factored in, Michael Wara of the Stanford Woods Institute for the Environment says.