PG&E Slumps as California Wildfire Liability Shield Is Lifted
TL;DR Summary
PG&E stock fell sharply after the California State Assembly amended wildfire legislation to remove liability protections for utilities, signaling higher wildfire-related liabilities and weighing on energy/utility stocks.
- PG&E Stock Plummets. It May Not Be Shielded From Wildfire Liabilities. Barron's
- California Dems hand Newsom rare defeat on wildfires Politico
- Governor Newsom and CA Legislature reach three-party deal on reforming state wildfire recovery system ABC10
- Newsom, Lawmakers Reach Last-Minute Deal on Wildfire Fallout KQED
- California lawmakers side with wildfire victims, reject bill to limit utility payouts for fires ABC7 Los Angeles
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