In May 2018, CalFire concluded that last year’s devastating Northern California wildfires were triggered by faulty PG&E equipment prompting wide-spread legal action against the company. The California State Assembly has put forth a bill that would allow PG&E to pay off fire-related lawsuits with state-authorized bonds. The bill suggests that PG&E could potentially face bankruptcy without help from the state. As the San Francisco Chronicle notes, “those bonds would be paid off by the utility’s customers, prompting critics to label the legislation a ‘bailout.’ ”
What does that mean for customers of PG&E?
The state of California and PG&E is deciding on how to pay for the wildfire damage. The ways to get the money are two-fold:
1) Have taxpayers pay for part of the damage.
2) Have PG&E ratepayers pay for part of the damage.
That is us regardless of how you look at it.
So, the question you have to ask yourself, do I pay out of the left or right pocket? At least with renewable energy you can ease the pain.
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