Sonoma County is preparing to take legal action against Pacific Gas and Electric Co. as it weighs a regional economic blow of some $725 million from last year’s Kincade Fire and a string of forced power outages. A majority of the region’s losses came from an estimated $385 million in property damage caused by the fire, which destroyed 374 buildings, according to a new report from Moody’s Analytics. The rest of the impact was the result of lost economic output, Moody’s found — an estimated $235 million in the fire and $105 million across four PG&E power shut-off events in October and November. The Sonoma County Board of Supervisors is set to hear about the economic report Tuesday, the same day the board is set to vote on a contract related to the county’s decision to pursue litigation against PG&E because of the Kincade Fire. In the report, Moody’s determined that the Kincade Fire and PG&E blackouts had a “noticeable, but temporary, impact on the Sonoma County economy.” Related Stories Biz & TechBy Shwanika Narayan and J.D. Morris‘Nothing we can do’: Dark prospects for businesses with…TravelBy Matt VillanoAfter Kincade Fire, Wine Country town in recoveryCalifornia WildfiresBy Sarah Ravani, Megan Cassidy,… Read full this story
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