California Governor Gavin Newsom signed a $21 billion bill to help fund wildfire relief, says Reuters. The funds will help bankrupt PG&E Corp and the state’s other investor-owned utilities cover liabilities. PG&E sought Chapter 11 bankruptcy protection in January after severe wildfires in 2017 and 2018. PG&E equipment have been blamed for many of the blazes, including the Camp Fire that killed more than 80 people. To access the funds, investor-owned utilities will need to agree to put a combined $5 billion toward improvements in their electrical grids.
Be the first to comment