One Thing California's Chief, PG&E Agree On Is a Wildfire Fund
- PG&E wants fire fund that state would provide $14 billion for
- Governor is offering $10.5 billion for a line-of-credit fund
The Camp Fire burns a home in Magalia, California, on Nov. 9, 2018.
Photographer: Justin Sullivan/Getty Images
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California’s governor and bankrupt power giant PG&E Corp. agree on one thing: The state needs a fund to deal with the liabilities utilities are facing because their equipment keeps igniting catastrophic wildfires.
Both Governor Gavin Newsom and PG&E are floating plans that would establish a wildfire fund for utilities to tap to pay out fire claims. But it’s Newsom’s proposal in particular that comes with a deadline fast approaching.