Author: RobertWalton@dogteamwetdog Published: 9/25/19
- The California Public Utilities Commission issued a proposed decisionMonday that would authorize the state’s investor-owned utilities to collect $902.4 million annually for a wildfire mitigation fund authorized by state lawmakers this summer.
- The $21 billion fund would be seeded by both shareholders and ratepayers. AB 1054 determined that customers would pay into the fundthrough a $2.50 monthly charge on bills that has been in place since the state’s energy crisis, and had been slated to roll off.
- For bankrupt Pacific Gas & Electric, the utility will need to exit Chapter 11 by a legislatively-set June 30, 2020, deadline in order to access the new fund.