Wildfire Bill Dies in California, Utilities Rally
TL;DR Summary
California lawmakers reportedly will kill Senate Bill 492, a wildfire-liability bill that did not include liability protections for utilities or a long-term funding plan for the state’s wildfire fund, prompting stock gains for PG&E and Edison International as investors priced in ongoing liability risk; PG&E rose about 4.9% to $13.93 and Edison about 7.3% to $57.94, with Sempra also edging higher.
- PG&E Stock, Edison International Rise as California Lawmakers Kill Wildfire Bill Barron's
- Gov. Newsom considers special legislative session on wildfire liability KCRA
- PG&E, Edison Suffer Biggest Stock Drops in Years on California Wildfire Legislation WSJ
- Wildfire liability bill dies without a vote on final day of session CalMatters
- Deal on California Wildfire Liability Collapses in Legislature KQED
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