Title : Who Got To Governor Jerry Brown? -- July 25, 2018
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Who Got To Governor Jerry Brown? -- July 25, 2018
From SeekingAlpha:- PG&E, Edison International, and Sempra Energy are higher after California Gov. Gov. Brown proposed legislation that could dramatically ease the potential wildfire-related financial burdens on large utilities by potentially shoveling more costs onto ratepayers’ shoulders.
- in a letter to state legislators, Brown said the current legal framework which confronts utilities with liabilities they claim threatens them with bankruptcy is unsustainable.
- Brown’s plan would not free PG&E of its financial responsibilities related to last fall’s northern California wildfires but would deliver a victory for PG&E and other utilities by shifting the future cost burden of strict liabilities that power companies now face under inverse condemnation, which holds utilities liable if their equipment was a factor in causing a wildfire or other disaster, even if the utility properly conducted maintenance and facilities upgrades.
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