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.
PG&E 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. PG&E, 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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