finance.yahoo.com

PG&E and Edison Sink After California Wildfire Liability Deal Falls Apart

PG&E Corporation logoPG&E Corporation
Sig2.85Sen-4.40Env-0.80Soc-1.20Gov-2.70
Edison International logoEdison International
Sig3.65Sen-6.20Env-0.30Soc-1.00Gov-2.10

PG&E and Edison International plunged on August 31 after California lawmakers introduced a wildfire-response bill that would not shift liability away from publicly traded utilities. Analysts cut ratings and price targets over lack of liability protection, warning the exposure could raise costs and limit infrastructure investment if the wildfire liability fund is exhausted, including a nearly 48% coverage requirement for PG&E.

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