Abel Says Court Ruling Eases PacifiCorp Wildfire Risks
Greg Abel says an Oregon court ruling against class action status reduced PacifiCorp wildfire risks. The utility now seeks liability caps for grid maintenance.
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BERKSHIRE HATHAWAY INC-CL A CEO Greg Abel said a recent court ruling reduced potential wildfire liabilities at its PacifiCorp utility from a peak of $55B.
The April 8 decision by an Oregon appeals court decertified a class-action lawsuit involving 2020 wildfire damages in the United States. This legal shift allows the utility to seek regulatory rate increases to fund infrastructure without facing immediate bankruptcy risks.
