Established in 2019 to shield utilities from bankruptcy after devastating fires, California's Wildfire Fund is under pressure due to the Eaton fire, which has caused significant destruction and loss of life. Southern California Edison might tap into this fund if investigations link them to the fire's ignition. With over 40 related lawsuits already filed, the outcome could set a precedent. The fund currently has $12 billion available, aiming for $21 billion, with shareholders and ratepayers contributing to cover fire damages across affected utilities.
California's Wildfire Fund, created to prevent utility bankruptcies due to catastrophic fires, faces its first test with the Eaton fire linked to Southern California Edison.
The fund has $12 billion in revenue, approved for up to $21 billion, with utility shareholders and ratepayers sharing the costs until 2035.
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