California utility CEO faces crisis over wildfire costs

PG&E plans to delay approximately $2 billion in investments for 2027 due to challenges in funding caused by California's wildfire liability system, which increases costs for utilities and deters investment. The company's CEO stated that the current wildfire cost allocation makes financing infrastructure upgrades more difficult and expensive. Despite these delays, PG&E remains committed to investing about $11.4 billion in California next year, focusing on maintaining safety and wildfire mitigation.

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