Markets Insider reports Oregon utility company Portland General Electric fell 16% on Thursday.<br />Investors fled after the company acknowledged unconfirmed reports that some of its electrical equipment may have contributed to the Santiam fire.<br />The Santiam wildfire is just one hour southeast of Portland. It's spread to 159,000 acres and forced thousands of residents to evacuate their homes.<br />In a statement, the company said it had received unconfirmed reports that heavy winds and debris damaged the electric equipment it operates.<br />However, Portland General Electric said it's not aware of any evidence 'that our equipment caused any of the fires.'<br />Shares of Portland Gas Electric traded down as much as 16% in Thursday trades to $31.96.
