STOCKS | PG&E to Cut 2027 Investment After California Wildfire Liability Bill Fails

Pacific Gas and Electric said it will reduce its planned 2027 investment by about 15% and delay roughly $2 billion in projects after California lawmakers failed to advance wildfire liability reform. According to Sina Finance, the company said the delayed projects include clean energy interconnection, housing development interconnection, and some electric vehicle charging infrastructure. The compromise version of Senate Bill 492 was not brought to a vote on September 1, the final day of the legislature's extended session. According to Sina Finance, the bill had sought to rebalance costs among wildfire survivors, utilities, insurers, and ordinary users, but the final text removed the core liability reforms. PG&E Chief Executive Officer Patti Poppe said the company will cut about 15% of its 2027 planned investment, covering roughly $2 billion in projects that are beneficial but not essential. According to Sina Finance, she said safety, wildfire protection, and mitigation spending will not be reduced, while some already confirmed projects in San Francisco will not be affected. The article said state reports estimate wildfire-related costs add about $41 a month to PG&E customers' bills and about $27 a month to Southern California Edison customers' bills. According to Sina Finance, PG&E and Edison International shares fell sharply after the compromise text was published, before later rebounding.