Flames burn from a destroyed home's natural gas line during the Skirball Fire in the Bel Air neighborhood of Los Angeles, California, on Wednesday, December 6, 2017. Fast-moving fires fanned by high winds in Southern California charred 50,000 acres of land, and prompted a shut down of the Interstate 405 highway. (Photo: Patrick T. Fallon/Bloomberg)
(Bloomberg) – California lawmakers are said to be considering a proposal to help utilities shoulder billions of dollars in potential liability costs while offering relief to wildfire victims by setting up a compensation fund that would be backed by the state and the power companies.
Details, including the size, are still being worked out and the proposal — one of a number of options being considered — may not come together, according to people familiar with the discussions who asked not to be identified because they aren't public. The fund could issue bonds, with the payments potentially provided by utility shareholders, ratepayers and revenue from the state's cap-and-trade program or general fund, the people said.
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