"There is definitely still risk ahead when it comes to wildfires, even with the recent heavy rains that hit the state, PG&E Corp. Chief Executive Officer Patti Poppe said in an interview. We're still definitely on watch and on the ready."
"We need to make sure that our housing stock is resilient to wildfire conditions. I do think that's a homeowner responsibility, said Poppe. I don't think electric ratepayers should be paying for people to harden their homes."
PG&E Corp. anticipates that Moody's and S&P will delay investment-grade upgrades until after California's wildfire season because of continued wildfire risk despite recent heavy rains. Fitch upgraded PG&E in September, but other ratings firms want to observe outcomes through wildfire season before moving. PG&E exited bankruptcy in 2020 after settling approximately $25.5 billion in fire-related claims. California passed legislation in September to shore up the state's wildfire fund. PG&E urges additional policies focused on home hardening and vegetation management and maintains that homeowners, not electric ratepayers, should fund home hardening.
Read at www.mercurynews.com
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