BMO: Senate Bill 492 "sets fire to hopes for meaningful reform."
PG&E is trading lower Friday after reports that lawmakers rejected Governor Gavin Newsom's bid to shield utilities from insurance claims.
PG&E Statement on Senate Bill 492
Deal manages liability cost impacts caused by California's rising wildfire threat.
PG&E shares plummeted to a 52-week low Monday.
Shares of power producers fell as long-term Treasury yields rose and Californian utilities slumped.