Gov. Newsom indicators invoice overhauling compensation for wildfire victims

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SACRAMENTO, Calif. (KGO) — Governor Gavin Newsom has signed laws that overhauls how the state pays for wildfire damages.

The invoice creates a brand new $21 billion fund to compensate victims. A part of the cash will come from utility firm shareholders, however half will come ratepayers.

RELATED: State meeting approves $21 billion fund to assist victims of wildfires

A $2.50 charge already in your utility invoice will probably be prolonged 15-years. It was presupposed to expire subsequent yr.

The plan additionally requires utility corporations to get annual security certifications. Critics say the invoice is a sweetheart deal for the utility trade.

See extra tales on wildfires.

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