20 Nov 2019|Moody's Investors Service
California's wildfire fund is large enough to cover potential claims from the state's three investor-owned utilities. The amount that a utility ultimately seeks from the wildfire fund will be much lower than its gross claims because the claims are typically settled at a much lower value.
Customer bill credits after power shutoffs signal weakening political support for California utilities
31 Oct 2019|Moody's Investors Service
PG&E agreed this week to provide one-time credits to about 729,000 electric customer accounts that were affected by a preemptive power shutoff on 9 October. PG&E's decision to provide credits to customer bills could set a precedent that may be used by state regulators to compensate power outage victims in the future.
28 Oct 2019|Moody's Investors Service
Major wildfires swept through parts of Northern and Southern California over the weekend, prompting investor-owned utilities to preemptively cut power to some customers under a policy known as public safety power shutoffs As the frequency of public safety power shutoffs increase, economic and social costs of outages will rise.