In filing, PG&E predicts major losses from Northern California blazes.

Company’s prediction follows findings by Cal Fire of utility’s responsibility in fires

“Based on the information we have so far, we continue to believe our overall programs met our state’s high standards.” Keith Stephens, PG&E spokesman

Pacific Gas and Electric Co. expects to record a “significant liability for losses” associated with the 2017 Northern California wildfires, the utility said Monday in a filing with the Securities and Exchange Commission.

However, the company said in the filing it may not take a loss from the Atlas and Highway 37 fires — despite findings by the California Department of Forestry and Fire Protection, or Cal Fire, that PG&E equipment was responsible for starting both fires.

“For the Atlas and Highway 37 fires, PG&E Corporation and the Utility do not believe a loss is probable at this time, given the information currently available,” PG&E wrote in the filing. “However, it is reasonably possible that facts could emerge that lead PG&E Corporation and the Utility to believe that a loss is probable, resulting in the accrual of a liability in the future, the amount of which could be significant.”

The disclosures come three days after Cal Fire found PG&E power lines at fault

in at least 12 fires that broke out across Northern California in October, including the deadly Nuns and Atlas fires in the North Bay. Cal Fire found reason to believe PG&E violated state law in 11 of the 16 fires for which the agency has released reports or summaries. The Atlas Fire in Napa County is among the 11 that have been referred to local district attorneys who could bring potential criminal charges, but the Highway 37 fire is not.

“Based on the information we have so far, we continue to believe our overall programs met our state’s high standards,” PG&E spokesman Keith Stephens said.

Napa County Assistant District Attorney Paul Gero was not immediately available for comment Monday.

The Atlas blaze burned 51,624 acres east of Napa, killing six people and destroying 783 structures. Cal Fire determined that the fire started in two locations; at one location, a large tree limb broke and came into contact with a PG&E power line. At the second location, a tree fell into the same line.

The Highway 37 fire in Sonoma County burned 1,660 acres and destroyed three structures, but caused no injuries. Cal Fire found the cause was electrical and associated with PG&E distribution lines.

It’s possible the reason PG&E has not taken a charge for the two fires is because it has not yet calculated the potential losses for the fires, said Travis Miller, director of utilities research at Morningstar.

PG&E’s stock fell 4 percent to $39.76 on Monday. The utility is expected to report secondquarter earnings in late July.

Cal Fire has not yet released findings for the cause of the Tubbs Fire, which killed 24 people, the deadliest of last October’s blazes.

Photos by Peter DaSilva / Special to The Chronicle 2017 Flames progress along both sides of Mount Veeder Road as the Nuns Fire burns west of downtown Napa on Oct. 10, 2017.

This was all that was left of a burned-out and collapsed house on Mount Veeder Road after flames from the Nuns Fire moved through the Napa Valley last October.

Peter DaSilva / Special to The Chronicle 2017 The Nuns Fire burns through Paras Vineyards while the main structure on the property is ablaze in the background west of downtown Napa on Oct. 10, 2017.