PG&E Wildfire Recovery Bonds Legislation

Legislation proposed allows PG&E to access wildfire recovery bonds, aiming to protect ratepayers from the financial burden associated with wildfire compensation. The draft, which amends AB235, emphasizes that corporate profits should bear the cost of compensating wildfire victims from the 2017 and 2018 incidents. A two-track confirmation process has been outlined by Judge Montali to address the trust for wildfire claims and the timeline for the debtor's plan implementation. The recommended judicial involvement in estimation procedures indicates ongoing complexity in resolving claims stemming from catastrophic events.