California's power regulator could face a shake-up that could lead to sweeping changes for PG&E
and other utilities. It follows the California Public Utilities Commission coming under criticism for failing to properly enforce a 2016 law requiring electric utility companies to have a wildfire action plan.
According to the Journal, the governor is weighing"overhauling" the commission, including making a management change, as the state prepares for the upcoming wildfire season. Newsom's office and the CPUC didn't respond to a request for comment. Last month, PG&E — the state's largest electric utility — said in a regulatory filing that it believes it's"probable" that the company's equipment will be found to be the source of the catastrophic 2018 Camp Fire, which destroyed more than 10,000 homes and killed 86 people in Butte County. Problems with PG&E equipment near where the Camp Fire is believed to have started were also reported by the utility in November.
The state is considering legislation that would allow the San Francisco-based utility to issue new debt to help cover some costs from the devastating wildfires. California also could push for a breakup of PG&E or take steps that could impact other investor-owned utilities in the state such as Edison International and Sempra Energy.
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