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PG&E Climbs as California Lawmaker Plans Fire Relief Bill

  • Bill being drafted that may extend securitization provisions
  • Key assemblyman may introduce bill as early as Dec. 3
Updated on

PG&E Corp. rose after a California lawmaker requested a bill to help the state’s largest utility absorb liabilities from this year’s fatal wildfires.

Kellie Smith, an adviser to assemblyman Chris Holden, said she is drafting legislation that could be introduced as early as Dec. 3. It may serve as a framework for lawmakers to consider relief for PG&E from the billions of dollars it faces in potential liability for death and property damage in Northern California’s Camp Fire, the deadliest in state history.