California passes $26 billion plan to deal with wildfire threats
A costly $26 billion proposal to deal with the state's ongoing wildfire threats is heading to Gov. Gavin Newsom.
Newsom, who had worked with Democratic lawmakers behind the scenes to pass a comprehensive plan ahead of a month-long summer recess, is expected to sign the bill as early as Friday.
Under the plan, utility companies would need to pay $5 billion in order to access a fund of up to $21 billion, with PG&E contributing the greatest share of the burden.
If San Diego Gas & Electric and Edison agree to participate, costs for the $21 billion going into the fund would be evenly shared between investor-owned utility companies and ratepayers.
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