PG&E says California SB 492 fails to deliver sustainable wildfire liability financing fix

PG&E issued a statement on Senate Bill 492 following California legislative amendments to the state’s wildfire risk reduction framework.

• It flagged progress for survivor recovery and wildfire preparedness, yet called the bill insufficient for a sustainable long-term solution.
• The company warned SB 492 fails to address financing risks tied to California’s wildfire liability framework, limiting affordable investment in the grid.
• It cited an April California Earthquake Authority report concluding existing funding mechanisms are insufficient, arguing the bill does not resolve that gap.
• PG&E called for a more durable framework to support survivors, maintain safety incentives, cut wildfire risk, and sustain reliable service at lower customer cost.