PG&E announced the assessment Friday in a news release, citing "the growing wildfire threat."
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It said its board of directors is engaging outside experts for advice on wildfire safety, but it did not identify any potential plans to address liability or safety.
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"We want to tap fresh perspectives and additional expertise to help address the changing nature of PG&E's business and the challenges it faces now and in the future," the board said in a statement.
National Public Radio , citing an anonymous company official and a former employee, reported that PG&E is exploring selling off its natural gas division - a major part of the company - to set up a fund for potential wildfire claims.
It is also looking into selling real estate assets, including its San Francisco headquarters, NPR reported.
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The utility is facing numerous lawsuits involving wildfire losses and scrutiny of its power line safety by a U.S. judge overseeing a separate criminal case against it.
State fire investigators blamed the utility's power lines for causing several wildfires in October 2017.
Investigators have not determined the cause of a massive wildfire that destroyed the town of Paradise in November. PG&E reported an outage around the time and place that the fire ignited.
The fire killed at least 86 people and was the deadliest in California history.