Pacific Gas and Electric Company released a statement on Senate Bill 492, the California legislation addressing wildfire risk reduction and recovery. PG&E said the bill makes some progress in helping wildfire survivors and strengthening preparedness, but it does not provide a sustainable solution. The utility argues the bill fails to adequately address financing risks from California's current wildfire liability framework, which could hinder affordable investment in a safer, more reliable energy system. PG&E cited the California Earthquake Authority's April report, which found existing funding mechanisms insufficient, and urged a durable solution that supports survivors, maintains safety incentives, and enables affordable investment.
PG&E CorpPG&E says Senate Bill 492 fails to address wildfire liability financing risks, hindering affordable investment.
