Climate Changed
California Considers Issuing Bonds to Cover Fire Damages
- PG&E exposed to $17 billion in liabilities for 2017 fires
- Lawmakers no longer considering changes to liability law
Firefighters monitor a back fire as they battle the Medocino Complex fire near Lodoga, California on Aug. 7, 2018.
Photographer: Justin Sullivan/Getty Images North AmericaThis article is for subscribers only.
California is finalizing the details of a plan that could let PG&E Corp. issue bonds to cover potential damages from wildfires that destroyed thousands of homes last year.
The details are still being worked out, and a proposal may be issued by Tuesday night, state Senator Bill Dodd said Monday. It’s part of a comprehensive wildfire bill that a state conference committee is evaluating now and that lawmakers are seeking to complete before the legislative session ends Aug. 31.