$10B Fund for California Fire Costs May Dry Up by 2030
California has for months been weighing the idea of a fund that utilities could dip into when facing crippling costs tied to wildfires. On Wednesday, state lawmakers got a feel for how big that fund would have to be.
During a legislative hearing, an energy advisory firm commissioned by California Governor Gavin Newsom’s office presented a range of options for creating a pool of anywhere from $10 billion to $40 billion. The analysis, outlined by Nathan Pollak of Filsinger Energy Partners, showed that a $10 billion fund had a 98% chance of being depleted by 2030 while a $40 billion fund would have a 7% chance.