Energy And Utilities News

California Lawmakers Reject Newsom’s Wildfire Liability Overhaul, Leaving PG&E Exposed

California Democratic lawmakers rejected Governor Gavin Newsom’s comprehensive plan to shield utilities from wildfire liabilities, resulting in a narrower compromise that leaves PG&E exposed to financial risk. The stock of PG&E and its parent company, Edison International, plummeted as the final legislation failed to include the broad protections utilities sought, marking a rare legislative defeat for the governor.