As LA County Sues Edison Over Deadly Fire, is the State’s Wildfire Fund in Jeopardy?
Source: CalMatters | By Alejandro Lazo and Sergio Olmos
Gov. Gavin Newsom and the Legislature created a $21 billion wildfire fund paid for by Wall Street investors and California utility ratepayers to help PG&E exit bankruptcy and protect utilities from being financially threatened in the future by the wildfires they cause. Six years later, experts are warning that damages from January’s LA fires could deplete the fund, or, at the very least, raise doubts about the fund’s ability to cover future wildfire losses.
Mark Toney, executive director of consumer advocacy group The Utility Reform Network, said California should consider a major shift in how it approaches wildfire prevention and recovery. Instead of focusing only on utility-caused wildfires, the state needs a comprehensive wildfire prevention plan that addresses all fire risks — whether sparked by power lines, lightning, arson, or other causes, he said. Every state agency should be working together under a unified strategy, rather than leaving individual municipalities and utilities to figure it out on their own, he continued.
