
"Northern California fire survivors, whose plight inspired the fund and who have yet to be made whole for their losses in the 2017 North Bay firestorm and 2018 Camp Fire, among others, had recently been pushing lawmakers to be included in the fund, but no such provision was part of the last-minute deal, which Gov. Gavin Newsom signed into law Friday."
"The $21 billion California Wildfire Fund was created after Pacific Gas & Electric Co.'s bankruptcy in 2019 as liabilities for catastrophic fires tied to its equipment soared. Funded in equal parts by ratepayers and utility shareholders, the pool of money was the state's answer to a new era of utility-sparked and climate-driven wildfires that have leveled communities and threatened to topple the state's giant energy providers as they confront legal claims from thousands of fire survivors."
"The wind-driven Los Angeles firestorm in January, however, established a new high mark, with more than 16,000 homes, businesses and other structures destroyed and 31 people killed - making for what is likely to be one of the costliest disasters in U.S. history. In one of those infernos, the Eaton Fire near Pasadena, Southern California Edison has indicated its equipment may be tied to the origin in the foothills of Altadena, with investigations ongoing."
California lawmakers passed a last-minute energy affordability bill that included a major infusion to the state's wildfire restitution fund and a 10-year extension with an additional $18 billion. Northern California fire survivors pushed to be included in restitution for losses from the 2017 North Bay firestorm and 2018 Camp Fire but were not added to the final deal. The $21 billion Wildfire Fund originated after Pacific Gas & Electric Co.'s 2019 bankruptcy and was built to share liabilities between ratepayers and utility shareholders. Recent wind-driven Los Angeles fires destroyed more than 16,000 structures and raised concerns the fund could be drained if utilities are found at fault.
Read at The Mercury News
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