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Investigators have determined that a 'private electrical system' caused the 2017 Tubbs Fire in wine country.
During high-winds, conductors are pushed together creating sparks that drop into vegetation creating fire danger, judge says.
The company's shares are down 51% since the Camp Fire broke out six weeks ago.
PG&E workers saw damage and flames near one of the utility's transmission towers, now the focus of investigations.
The giant utility made its final decision not to cut electricity more than six hours after the Camp Fire began on Nov. 8.
PG&E's potential liability if they are found responsible for this year's fires could be as much as $15 billion.
Wildfires have killed at least 23 people and forced more than 250,000 people to flee their homes.
Eleven of California's 20 deadliest fires occurred in previous Octobers, along with 11 of its most destructive.
Scientists tend to agree with that assessment.
California blazes have charred more acres in the first six months of this year than they did in the same period in 2017.