California Lawmakers Rush $21 Billion Wildfire Liability Bill to Save Embattled Utilities
Lawmakers in California quickly approved legislation providing investor-owned utilities with $21 billion to help them pay for wildfire damages linked to their transmission equipment. Democratic Governor Gavin Newsom signed the bill on July 12. The bill gives companies two options. One is a $10.5 billion state-backed line of credit to pay for wildfire damages that…