PARADISE, CA - NOVEMBER 10:  Yuba and Butte County sherriff deputies carry a body bag with a deceased victim of the Camp Fire on November 10, 2018 in Paradise, California. Fueled by high winds and low humidity, the rapidly spreading Camp Fire ripped through the town of Paradise and has quickly charred 100,000 acres and has destroyed over 6,700 homes and businesses in a matter of hours. The fire is currently at 20 percent containment.  (Photo by Justin Sullivan/Getty Images)
PHOTO: Justin Sullivan/Getty Images
PARADISE, CA - NOVEMBER 10: Yuba and Butte County sherriff deputies carry a body bag with a deceased victim of the Camp Fire on November 10, 2018 in Paradise, California. Fueled by high winds and low humidity, the rapidly spreading Camp Fire ripped through the town of Paradise and has quickly charred 100,000 acres and has destroyed over 6,700 homes and businesses in a matter of hours. The fire is currently at 20 percent containment. (Photo by Justin Sullivan/Getty Images)
Now playing
00:46
Camp Fire 100% contained
Saudi Crown Prince Mohammed bin Salman attends a conference in the Saudi capital Riyadh on October 2018.
PHOTO: FAYEZ NURELDINE/AFP/Getty Images
Saudi Crown Prince Mohammed bin Salman attends a conference in the Saudi capital Riyadh on October 2018.
Now playing
02:10
US intel report: Saudi Crown Prince responsible for approving Khashoggi operation
PHOTO: CNN
Now playing
09:36
I lost everything: Texas mom's devastating story from winter storm
The Pentagon, the headquarters of the US Department of Defense, located in Arlington County, across the Potomac River from Washington, DC is seen from the air January 24, 2017.  / AFP PHOTO / Daniel SLIM        (Photo credit should read DANIEL SLIM/AFP via Getty Images)
PHOTO: Daniel Slim/Getty Images
The Pentagon, the headquarters of the US Department of Defense, located in Arlington County, across the Potomac River from Washington, DC is seen from the air January 24, 2017. / AFP PHOTO / Daniel SLIM (Photo credit should read DANIEL SLIM/AFP via Getty Images)
Now playing
05:24
US carries out airstrikes on Iran-backed militia groups
A woman walks past mailboxes  seen outside of a US Post Office in Washington, DC on August 17, 2020. - The United States Postal Service is popularly known for delivering mail despite snow, rain or heat, but it faces a new foe in President Donald Trump. Ahead of the November 3 elections in which millions of voters are expected to cast ballots by mail due to the coronavirus, Trump has leveled an unprecedented attack at the USPS, opposing efforts to give the cash-strapped agency more money as part of a big new virus-related stimulus package, even as changes there have caused delays in mail delivery. (Photo by MANDEL NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)
PHOTO: Mandel Ngan/AFP/Getty Images
A woman walks past mailboxes seen outside of a US Post Office in Washington, DC on August 17, 2020. - The United States Postal Service is popularly known for delivering mail despite snow, rain or heat, but it faces a new foe in President Donald Trump. Ahead of the November 3 elections in which millions of voters are expected to cast ballots by mail due to the coronavirus, Trump has leveled an unprecedented attack at the USPS, opposing efforts to give the cash-strapped agency more money as part of a big new virus-related stimulus package, even as changes there have caused delays in mail delivery. (Photo by MANDEL NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty Images)
Now playing
02:49
Biden announces 3 nominees to USPS board
PHOTO: CNN
Now playing
02:00
Weekend hindered by rain in the East and snow in the Northwest
The exterior of the U.S. Capitol building is seen at sunrise on February 8, 2021 in Washington, DC. The Senate is scheduled to begin the second impeachment trial of former U.S. President Donald J. Trump on February 9.
PHOTO: Sarah Silbiger/Getty Images
The exterior of the U.S. Capitol building is seen at sunrise on February 8, 2021 in Washington, DC. The Senate is scheduled to begin the second impeachment trial of former U.S. President Donald J. Trump on February 9.
Now playing
01:57
Senate parliamentarian rules against minimum wage increase in relief bill
Now playing
03:56
Marjorie Taylor Greene's challenger explains decision to run
Everyone wears masks and desks are spaced at the high school, where full in-person teaching has been offered since the school year began.
PHOTO: CNN
Everyone wears masks and desks are spaced at the high school, where full in-person teaching has been offered since the school year began.
Now playing
03:20
Ohio school is staying open with these safety measures
PHOTO: CNN
Now playing
03:44
Acting US Capitol Police chief explains 'operational challenges' from January 6 riot
Rep. Marie Newman (D-IL) speaks with CNN
PHOTO: CNN
Rep. Marie Newman (D-IL) speaks with CNN's Alisyn Camerota.
Now playing
07:17
Lawmaker reacts to Rep. Taylor Greene's tweet on her transgender daughter
An activist wears a "Fight For $15" T-shirt during a news conference prior to a vote on the Raise the Wage Act July 18, 2019 at the U.S. Capitol in Washington, DC. The legislation would raise the federal minimum wage from $7.25 to $15 by 2025.  (Photo by Alex Wong/Getty Images)
PHOTO: Alex Wong/Getty Images
An activist wears a "Fight For $15" T-shirt during a news conference prior to a vote on the Raise the Wage Act July 18, 2019 at the U.S. Capitol in Washington, DC. The legislation would raise the federal minimum wage from $7.25 to $15 by 2025. (Photo by Alex Wong/Getty Images)
Now playing
02:59
How to make sense of the minimum wage debate
AURORA, CO - DECEMBER 15: (EDITORIAL USE ONLY) Rocky Mountain Regional VA Medical Center investigational pharmacy technician Sara Berech prepares a dose of the Johnson & Johnson COVID-19 vaccine for a clinical trial on December 15, 2020 in Aurora, Colorado. The Johnson & Johnson vaccine could be submitted for emergency use by late January and is the only vaccine among leading candidates given as a single dose. (Photo by Michael Ciaglo/Getty Images)
PHOTO: Michael Ciaglo/Getty Images
AURORA, CO - DECEMBER 15: (EDITORIAL USE ONLY) Rocky Mountain Regional VA Medical Center investigational pharmacy technician Sara Berech prepares a dose of the Johnson & Johnson COVID-19 vaccine for a clinical trial on December 15, 2020 in Aurora, Colorado. The Johnson & Johnson vaccine could be submitted for emergency use by late January and is the only vaccine among leading candidates given as a single dose. (Photo by Michael Ciaglo/Getty Images)
Now playing
02:46
FDA says Johnson & Johnson vaccine is safe and effective
AUGUSTA, GEORGIA - NOVEMBER 15: Tiger Woods of the United States looks on from the third tee during the final round of the Masters at Augusta National Golf Club on November 15, 2020 in Augusta, Georgia. (Photo by Patrick Smith/Getty Images)
PHOTO: Patrick Smith/Getty Images
AUGUSTA, GEORGIA - NOVEMBER 15: Tiger Woods of the United States looks on from the third tee during the final round of the Masters at Augusta National Golf Club on November 15, 2020 in Augusta, Georgia. (Photo by Patrick Smith/Getty Images)
Now playing
02:43
Tiger Woods' team gives an update on his condition
Connolly
PHOTO: CNN
Connolly
Now playing
03:51
'I will not be lectured' on bipartisanship: Lawmaker fires back at Jim Jordan
PHOTO: KCAL/KCBS
Now playing
01:37
Official details speaking with Woods in moments following accident
PHOTO: CNN
Now playing
04:15
Experts: Former CIA agent victim of microwave weapon in Moscow
(CNN) —  

Pacific Gas & Electric acknowledged Thursday that it will likely be found responsible for the deadliest wildfire in California history.

PG&E, California’s largest public utility, said in its latest earnings report that while the cause of the Camp Fire remains under investigation, “the company believes it is probable that its equipment will be determined to be an ignition point of the 2018 Camp Fire.”

As a result of the blaze, which claimed at least 86 lives and destroyed 14,000 homes, the company said it recorded a $10.5 billion charge ahead of anticipated claims.

PG&E’s total losses for 2018 amounted to $6.9 billion, the earnings report said.

The utility previously said it anticipated being found responsible for damages from the Camp Fire and other California wildfires. The expectation of huge losses led to the company filing for bankruptcy last month.

PG&E, which provides electricity to some 16 million Californians, has been under intense scrutiny for how it maintains its infrastructure as officials investigate the Camp Fire’s cause.

PG&E pointed out in the report that the California Department of Forestry and Fire Protection (Cal Fire) has identified the blaze’s starting point and said it began at about 6:33 a.m. on November 8, not far from a PG&E transmission tower.

Approximately 15 minutes earlier, the company said, the PG&E transmission line nearby “deenergized.” Later that day, utility workers discovered that a part had separated from the PG&E tower.

Subsequent inspections of this transmission line identified equipment that should have been repaired or replaced, the company said.

PG&E said Thursday it was inspecting its equipment in areas that have a higher risk of wildfires to prevent further incidents.

“The company is taking action right away to address any issues that pose an immediate risk to public safety, in advance of this year’s wildfire season,” it said.

CNN’s Chris Isidore, Madeleine Ayer and Scott Glover contributed to this report.