PG&E Stock Plummets on California Wildfire Legislation. Why Wall Street Isn't Happy. -- Barrons.com
Dow Jones2026/08/31 11:16By Kit Norton
California has left investors in the lurch after the state legislature over the weekend introduced wildfire legislation that didn't include liability protection for utilities.
PGE stock dropped 17% to $13.80 in premarket trading on Monday as investors were selling shares of the California utility following the California State Assembly's decision to amend Senate Bill 492. PGE, however, wasn't alone.
Fellow utility stocks Edison International and Sempra declined 8.9% and 1.5%, respectively.
The main issue for Wall Street is that the amended legislation doesn't include California Gov. Gavin Newsom's proposal that would block insurance companies from suing utilities over wildfire-related legal claims.
Write to Kit Norton at kit.norton@barrons.com
This content was created by Barron's, which is operated by Dow Jones Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
August 31, 2026 07:16 ET (11:16 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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