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California utilities get cut by Wall Street after a weak wildfire bill

Lawmakers advanced a narrower SB 492. BMO, Mizuho and Wells Fargo cut PG&E, Edison and Sempra over unfixed wildfire risk.

California utilities get cut by Wall Street after a weak wildfire bill
"Gov. Gavin Newsom views damage from the 2021 Dixie fire in Greenville, Calif. Investigators found the fire was sparked by Pacific Gas & Electric’s equipment." Credit: AFP/Getty Images
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