California Governor Wants Wildfire Fund to Help Utilities
California Gov. Gavin Newsom is pressing lawmakers on a wildfire fund that may be financed through bonds to help utilities pay for the catastrophic blazes their power lines keep igniting, according to people familiar with the proposal.
Newsom is proposing a so-called liquidity fund that could be seeded by at least $10 billion in Department of Water Resources bonds, said the people, who asked not to be named because the discussions are private. The administration may also ask utilities to contribute about $7.5 billion in equity, the people said.