Participants in PG&E Corp.'s 401(k) plan with holdings in the company stock option have seen their investment plunge as wildfires rage across California.
Since the deadly fires erupted on Nov. 8, PG&E's stock price has plummeted 46.5%, closing at $25.59 Wednesday. The stock is off 42.9% since the beginning of the year.
The PG&E 401(k) plan had 11.4% of its $6.51 billion in assets invested in company stock as of year-end 2017, according to the utility's 11-K filing. That means participants have lost nearly $320 million in value since then in their company stock holdings.
Edison International, the parent of Southern California Edison, also took a hit, plunging 22.4% since the fires broke out. The stock closed Wednesday at $53.87, down from $63.24 at the beginning of the year, a 14.8% decline.
Edison's 401(k) plan had 12.5% of its $4 billion in assets in company stock at year-end 2017, according to its 11-K filing. That puts participant losses at around $74 million year-to-date.
The two utilities are reeling from fire damage to their lines and infrastructure, with PG&E hit particularly hard as allegations surfaced that its equipment might have started one of the fires.