California Governor Gavin Newsom on Friday proposed a new fund to pay for wildfi...
- California Governor Gavin Newsom on Friday proposed a new fund to pay for wildfire liabilities, while holding the state’s largest utility more accountable for the growing number of blazes in the state.
“PG&E is a textbook example of what happens when a utility does not invest in safety after numerous deadly reminders to do so over many years,” a report released by Newsom said. The current system pushed PG&E to seek bankruptcy protection in January, as it faced liabilities in excess of $30 billion related to the deadliest wildfires in the state’s history.
The utility said in a statement it “is encouraged by the broad scope” of Newsom’s report, which reflects the need to address wildfire liability and regulatory reform”.The report was harshly critical of PG&E, saying it is “taking advantage of the bankruptcy process to promote the interests of investors over fire victims and other stakeholders.”
The report calls on the federal government to better manage its forests, as the owner of 57 percent of California’s forest lands.
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