California lawmakers reject Newsom's wildfire liability shield, PG&E and Edison International plunge
California lawmakers rejected Governor Gavin Newsom's plan to shield utilities from wildfire liability, causing PG&E shares to fall roughly 19-20% and Edison International shares to fall 23-24%, wiping $6.5B in market value from EIX. The wildfire bill passed without a liability cap, prompting analyst downgrades across California utilities including Sempra.
Detected & updated continuously · Source: Nebula
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@blckchaindaily
🚨 PG&E $PCG SINKS 20% ON WILDFIRE LITIGATION RISK; EDISON INTERNATIONAL $EIX FALLS 23%
@MSBIntel
California lawmakers reject Newsom's plan to shield utilities from wildfire liability, hitting PG&E and Edison International shares.
@marketsniperpro
$EIX falls 24% today, wiping $6.5B in market value. PG&E down 19%. California's wildfire bill passed without a liability cap. https://t.co/V4jyF8noFA
@business
Shares of PG&E, Edison International and Sempra plunged Monday after unfavorable California wildfire legislation prompted a wave of analyst downgrades https://t.co/rQwQw30j21
@visionarymind
# You’d think everyone in California stopped paying the highest energy bills in the world based off EIX & PCG today