California Legislature Delivers Critical Wildfire Package to Stabilize Utilities and Maintain Energy Goals
- Jul 25, 2019 11:02 pm GMT
Just before the California Legislature adjourned for Summer Recess, Gov. Gavin Newsom signed a historic wildfire fund package seeking to balance the welfare of wildfire victims, investor-owned utilities (starting with PG&E, which is in bankruptcy proceedings due to its wildfire liabilities), and utility employees with a commitment to uphold California’s advanced energy leadership. The package navigated the formal legislative process in a matter of days to meet the Newsom Administration’s declared deadline of July 12, and most importantly, just in time to avert the looming threat of credit rating downgrades for the state’s other two investor-owned utilities, San Diego Gas & Electric and Southern California Edison.
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