New York (CNN Business) Pacific Gas and Electric has filed for bankruptcy protection after coming under pressure from billions of dollars in claims tied to deadly wildfires.

California's largest power company said in a statement Tuesday that it had submitted a Chapter 11 bankruptcy filing in the Northern District of California.

PG&E said it was committed to maintaining services for customers during the bankruptcy process.

John Simon, the company's Interim CEO, said he would work "to create a more sustainable foundation for the delivery of safe, reliable and affordable service."

"We have heard the calls for change and we are determined to take action throughout this process to build the energy system our customers want and deserve," he said in the statement.

Read More