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California Approves Bill to Help PG&E Pay for Wildfire Costs

  • Measure would limit utility liabilities from 2017 fires
  • PG&E faces as much as $17 billion in fire-related claims
A firefighter hoses down the perimeter of a partially burned home in Los Angeles, Dec. 6, 2017.
A firefighter hoses down the perimeter of a partially burned home in Los Angeles, Dec. 6, 2017.Photographer: Patrick T. Fallon/Bloomberg
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California lawmakers passed legislation to help utility giant PG&E Corp. pay for billions of dollars in potential liabilities from wildfires that ravaged Northern California wine country last year.

The state Assembly and Senate approved a wide-ranging plan Friday that includes directing regulators to limit how much PG&E shareholders would cover from the 2017 fires that killed dozens of people. The bill now heads to the desk of Governor Jerry Brown, who has supported helping PG&E dodge fiscal distress.