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Lights Out For California : The Indicator from Planet Money PG&E announced it was shutting off power to thousands of Californians to lessen the risk of wildfire. This is costing residents and businesses dearly and PG&E says it will likely be the new normal.

The Indicator from Planet Money

Lights Out For California

Lights Out For California

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Homes stand during a blackout in Sausalito, California, U.S., on Tuesday, Oct. 29, 2019. David Paul Morris/Bloomberg via Getty Images hide caption

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David Paul Morris/Bloomberg via Getty Images

Homes stand during a blackout in Sausalito, California, U.S., on Tuesday, Oct. 29, 2019.

David Paul Morris/Bloomberg via Getty Images

Earlier this week PG&E, California's largest utility company, announced it would be shutting off power in parts of the state to lessen the risk of wildfire. This has left millions of Californians and businesses stranded without electricity.

Once the wealthiest companies in the country, PG&E is now bankrupt. Dozens of wildfires in the past few years have been traced back to PG&E's aging equipment. How did this happen? And what does this mean for California businesses and residents going forward?

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