- Jun 22, 2020 9:32 pm GMT
Pacific Gas and Electric is rising from the ashes after its financing plan was approved. The utility is now coming out of bankruptcy after it collected $30 billion in liability claims following the 2018 California wildfires. The utility is now poised to benefit from a wildfire protection fund, half of which is funded by state taxpayers, which will cover the costs of future damaging wildfires. Utility participants in the fund are also able to avoid regulatory hurdles in passing wildfire costs down to their customers.
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