California wildfire bill fuels debate: Bailout for PG&E or financially sensible?
That standard -- at the heart of a 62-page wildfire response bill produced at a breakneck pace over the past month -- marks the divide between critics who say it's a bailout for PG&E versus those who warn that beating up on the utility giant will hit almost everyone's pocketbook.
Already, state investigators have found the utility's equipment responsible for starting 16 major wildfires last year. A finding on the most destructive blaze, the Tubbs fire, is still pending.
"If everybody's a little bit happy and a little bit pissed off it probably achieved what it should have," Gore said.
If the market is any indication, PG&E has had a good week so far as details of the bill emerged and the utility's stock went up by
Fire victims, as PG&E ratepayers, "will be paying for their own loss," said Evans, a former state senator and
McCallum noted that lawmakers rejected a strong push by PG&E and Gov.
PG&E spent about
PG&E representatives were not called as witnesses during the committee's seven public hearings. A spokeswoman for the utility said Tuesday they were still reviewing the final legislative package.
McCallum said the bill "gives us some assurance the utilities will be safer," and ramps up fire prevention, including a
His group, Up from the Ashes, which represents displaced residents and trial attorneys, spent more than
"The question everyone needs to ask themselves is what happens if we don't help PG&E," said
"I think the company is in jeopardy," he said, noting that
___
(c)2018 The Press Democrat (Santa Rosa, Calif.)
Visit The Press Democrat (Santa Rosa, Calif.) at www.pressdemocrat.com
Distributed by Tribune Content Agency, LLC.
A.M. Best Affirms Credit Ratings of Allianz SE and Most of Its Rated Subsidiaries
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News