BERKELEY, Calif. — California regulators have suspended a $200 million fine against Pacific Gas & Electric for the utility's neglect of electrical equipment that ignited deadly wildfires in Northern California.

The waiver approved Thursday by California's Public Utilities Commission will deprive state coffers of money that could offset revenue expected to be lost as the coronavirus pandemic depletes funds from sales and income taxes.

PG&E had asserted it might not be able to raise the tens of billions of dollars it needs to get out of bankruptcy if it was forced to pay the $200 million.