California Lawmakers OK Bill to Help PG&E Pay for Wildfire Costs
California lawmakers passed legislation to help utility giant PG&E Corp. pay for billions of dollars in potential liabilities from wildfires that ravaged Northern California wine country last year.
The state Assembly and Senate approved a wide-ranging plan Friday that includes directing regulators to limit how much PG&E shareholders would cover from the 2017 fires that killed dozens of people. The bill now heads to the desk of Governor Jerry Brown, who has supported helping PG&E dodge fiscal distress.