Pacific Gas and Electric Company (PG&E)

California officials are unhappy with PG&E's power shutoffs

A sign calling PG&E to turn the power back on.
A sign calling PG&E to turn the power back on. Photo: Josh Edelson/AFP via Getty Images

California regulators and the state's governor are not happy — at all — with how PG&E executed its power shutoffs last week aimed at preventing wildfires.

Why it matters: The pre-emptive shutdowns affected roughly 2 million people and show how power companies will need to confront risks heightened by climate change.

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

PG&E
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.