California lawmakers approve legislation for $21 bln wildfire fund

1 BUSINESS

Business News - Opportunities - Reviews

 

 

SAN FRANCISCO, July 11 (Reuters) – California lawmakers approved legislation on Thursday to create a $21 billion fund to help utilities in the state pay for claims arising from future wildfires sparked by their equipment, tackling a top issue for the state after power provider PG&E Corp filed for bankruptcy in January expecting more than $30 billion in wildfire liabilities.

The legislation now goes to Gov. Gavin Newsom, who in June proposed California set up such a fund. State Senator Bill Dodd, a Democrat who co-authored the legislation, said he expects Newsom will approve the bill soon. “All that’s left is the governor’s signature,” Dodd told Reuters. (Reporting by Jim Christie Editing by Susan Thomas)

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Leave a Reply