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California regulators on Thursday suspended a $200 million fine against Pacific Gas & Electric as punishment for the utility's neglect of electrical equipment that ignited a series of deadly wildfires in Northern California. The waiver approved in a unanimous vote by California's Public Utilities Commission will deprive the state coffers of money to help offset losses income and sales taxes as the coronavirus pandemic pushes the state into a $54 billion budget deficit. PG&E resisted the fine on the grounds that it would threaten its ability to raise the tens of billions of dollars needed to finance its complex plan to emerge from bankruptcy by a June 30 deadline.
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