California legislators created a $21 billion “wildfire fund” to minimize risk to utility companies which could prove important if investigators find that such a company caused one of the recent major fires that have devastated Los Angeles County.
The fund permits Pacific Gas & Electric Co., San Diego Gas & Electric Co., and Southern California Edison to pay into it. If any of those utilities is found by investigators led by the California Department of Forestry and Fire Protection to be responsible for a fire, they are enjoined to pay for the first $1 billion of losses. After that, the wildfire fund will have to cover the costs.
In 2019, Pacific Gas & Electric declared bankruptcy after being found responsible for the Camp Fire, the deadliest fire in the state’s history. “The Camp Fire was caused by electrical transmission lines owned and operated by Pacific Gas & Electricity…
