PG&E Stock Falls Amid Legislative Failure and Wildfire Liability Concerns
PG&E Corporation (PCG) stock dropped over 20% on Monday after a legislative effort in California to limit the utility's liability for wildfire-related lawsuits failed. The collapse of this initiative raised concerns that PG&E would struggle financially due to ongoing litigation from insurance companies seeking reimbursement for homeowner claims related to wildfires caused by equipment malfunctions. Compounding these worries, PG&E announced it plans to defer approximately $2 billion in capital improvement work scheduled for 2027. While the company did not explicitly link this deferral to wildfire liability costs, it mentioned a
