Wildfire Bill Dies in California, Utilities Rally
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.