TECH UTILITIES 20 CRACK SERIES

Wildfire liability has been a growing problem for CaliforniaвЂ™s utilities. The bill was controversial, with some calling it a bailout for a utility that should have been better prepared to deal with the wildfire danger. PG&E lobbied lawmakers heavily for help, warning that Wall Street investors could downgrade the companyвЂ™s credit rating without relief from the Legislature. Those concerns prompted the state Legislature last month to approve a bill that would allow PG&E to borrow money for its 2017 wildfire costs while using funds collected from ratepayers to pay back the loan. PG&EвЂ™s potential losses from the October blazes were so vast that the utility said it faced possible bankruptcy if it did not get some relief from the state. Edison is estimated to face up to $4 billion in losses from the Thomas fire, which hit Ventura and Santa Barbara counties in December, and the Montecito mudslide that occurred a month later. Officials said ratepayers would see their bills increase between 81 cents and $1.20 a month, but far less than if Edison is found liable for a catastrophic fire like those that hit Sonoma, Napa, Lake and Mendocino counties last October. Utility companies are on the hook for hundreds of millions of dollars in losses, and officials have warned that the losses will grow if the agencies canвЂ™t find ways to reduce the risks. Many of CaliforniaвЂ™s most destructive fires have been fueled by powerful winds, which in some cases have caused power lines to snap off and spark blazes. Residents have blamed downed power lines for the fires, though officials have not completed their investigation of the causes. In the last few years, the state has experienced its largest and most destructive blazes on record.ДЄnother huge California utility, Pacific Gas & Electric, faces up to $15 billion in losses from last yearвЂ™s wine country fires, which destroyed more than 8,000 homes and killed more than 40 people.

The utility giantвЂ™s actions underscore power companiesвЂ™ growing concerns over their fire liability.

TECH UTILITIES 20 CRACK SERIES

In a sweeping effort to reduce the wildfire risk from electric power lines, Southern California Edison said Monday that it wants to spend $582 million for a series of improvements to its grid that likely would mean higher bills for ratepayers.

Tech utilities 20 crack