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The $21 billion plan to cover wildfire damages
The hulks of destroyed automobiles burned in the 2018 Thomas Fire in Ventura County. ((Photo: Joseph Sohm, via Shutterstock)On the final day of the legislative session, Gov. Newsom signed a complex, $21 billion bill that will dramatically change how California pays for future wildfire damages, with the customers and shareholders of California’s largest utilities covering the tab. The unprecedented measure seeks to stabilize the utility market and limit rate hikes, while establishing a blanket of financial security and compensation to victims of the devastating 2017-2018 fires.