By Stephen Nakrosis

Shares of electric utility PG&E Corp. (PCG) are rising in Wednesday's market, one day after the company said it reached a $1 billion settlement with several California cities, counties and agencies over losses resulting from deadly wildfires sparked by its equipment.

At 3:14 p.m. ET, the company's shares had gained 6.92% to $20.46. Volume was over 12 million shares trading, above the 65-day average volume of some 7.5 million.

The company had estimated it could face more than $30 billion in potential liability costs resulting from fires in 2017 and 2018. The recent settlement doesn't include lawsuits by individuals and businesses.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

June 19, 2019 15:36 ET (19:36 GMT)

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