Photo: Josh Edelson/AFP via Getty Images

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.

Per CNBC: "The dollar impact could be much higher if power isn’t restored in a timely fashion."

Our thought bubble, via Axios' Ben Geman: There are no other good options here. In this case, trying to prevent catastrophic fires is expensive in a system plagued by an aging and vulnerable infrastructure.

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Updated 35 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Global: Total confirmed cases as of 12:30 a.m. ET: 20,620,847 — Total deaths: 748,416— Total recoveries: 12,770,718Map.
  2. U.S.: Total confirmed cases as of 12:30 a.m. ET: 5,197,000 — Total deaths: 166,026 — Total recoveries: 1,714,960 — Total tests: 63,252,257Map.
  3. Politics: Pelosi says Mnuchin told her White House is "not budging" on stimulus position.
  4. Business: U.S. already feeling effects of ending unemployment benefits.
  5. Public health: America's two-sided COVID-19 response America is flying blind on its coronavirus response.
  6. Education: New Jersey governor allows schools to reopenGallup: America's confidence in public school system jumps to highest level since 2004.

Bob Woodward's new book details letters between Trump and Kim Jong-un

Bob Woodward during a 2019 event in Los Angele. Photo: Michael Kovac/Getty Images

Journalist Bob Woodward has obtained "25 personal letters exchanged" between President Trump and North Korean leader Kim Jong-un for his new book, "Rage," publisher Simon & Schuster revealed on Wednesday.

Details: In the letters, "Kim describes the bond between the two leaders as out of a 'fantasy film,' as the two leaders engage in an extraordinary diplomatic minuet," according to a description of the book posted on Amazon.

Dozens of Confederate symbols removed in wake of George Floyd's death

A statue of Confederate States President Jefferson Davis lies on the street after protesters pulled it down in Richmond, Virginia, in June. Photo: Parker Michels-Boyce/AFP via Getty Images

59 Confederate symbols have been removed, relocated or renamed since anti-racism protests began over George Floyd's death, a new Southern Poverty Law Center (SPLC) report finds.

Why it matters: That's a marked increase on previous years, per the report, which points out just 16 Confederate monuments were affected in 2019.