California’s historic wildfire season puts financial squeeze on the state’s utilities

California’s historic wildfire season puts financial squeeze on the state’s utilities

Mark Hand | Think Progress

Extreme heat and years of ongoing drought — both linked to climate change — are increasing wildfire risk throughout California. If the state’s fire liability rules don’t change, California’s destructive wildfires of 2017 could land a devastating blow to the finances of the state’s electric utilities, leaving the companies on the hook for billions of dollars in damages.

During their recent 2017 earnings conference calls, California’s three largest electric utilities — Pacific Gas and Electric, Southern California Edison, and San Diego Gas and Electric — emphasized they agree with Gov. Jerry Brown’s (D) conclusion that the state has entered a “new normal” with regard to how climate change is worsening wildfires in the state…(Read the full story)

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