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Los Angeles Times
Source: Los Angeles Times
10 HrsLos Angeles Times
Source: Los Angeles Times
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California’s largest investor-owned utilities are seeking a permanent cap on shareholder liability for catastrophic wildfires, as an investigation into Southern California Edison’s role in the deadly Eaton fire continues. The proposal would limit liability for imprudent conduct to 20% of each utility’s transmission and distribution equity rate base—currently $4.3 billion for Edison, $5.1 billion for PG&E and $1.5 billion for San Diego Gas & Electric—with customers paying remaining costs through electricity bills. Utilities say the cap would protect credit ratings and investment, while consumer advocates, wildfire survivors and lawmakers argue it would weaken accountability.
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