Public utilities fall short on wildfire mitigation, putting residents and shareholders at risk
Publishing timestamp: 2024-02-07 08:00:01
Summary
The article discusses the failures of utility companies in assessing and mitigating wildfire risks, using examples such as the Paradise fire in California and the Lahaina fire in Hawaii. It highlights the lack of state oversight and the focus on protecting profits rather than investing in wildfire mitigation efforts. The article also mentions lawsuits and settlements involving utility companies and the challenges faced by fire victims in receiving compensation.
Sentiment: MIXED
Tickers: PCG, PPWLM, HE, XEL, BRK.A,
Keywords: breaking news: markets, products and services, lawsuits, hawaii, markets, california, catastrophe, hawaiian electric industries inc, united states, pg&e corp, politics, wildfires, xcel energy inc, electric utilities, paradise, environment, pacificorp, berkshire hathaway inc, business, utilities, breaking news: politics, business news, energy,
Source: https://www.cnbc.com/2024/02/07/public-utilities-fall-short-on-wildfire-risk-mitigation.html