CA governor to propose moving $18B to utilities wildfire fund, Bloomberg says

California Governor Gavin Newsom is working on a proposed bill that would shore up a state fund for utilities that’s at risk of being depleted after the wildfires that hit Los Angeles County earlier this year, Bloomberg’s Eliyahu Kamisher and Mark Chediak report. The plan would move an extra $18B to the fund, nearly doubling the current commitments, the authors say, citing people familiar with the matter. Publicly traded companies in the California utility space include Edison (EIX), PG&G (PCG), and Sempra (SRE).