California lawmakers are said to be considering a proposal to help utilities shoulder billions of dollars in potential liability costs while offering relief to wildfire victims by setting up a compensation fund that would be backed by the state and the power companies.
Details, including the size, are still being worked out and the proposal — one of a number of options being considered — may not come together, according to people familiar with the discussions who asked not to be identified because they aren’t public. The fund could issue bonds, with the payments potentially provided by utility shareholders, ratepayers and revenue from the state’s cap-and-trade program or general fund, the people said.