PG&E Stock Slides as Wildfire Liability Fears Trigger a Strategic Overhaul

PG&E on Wednesday was still sufficiently worried about wildfire-related liability that it announced a broad strategic review, even as California lawmakers shelved legislation that could have left utilities open to widespread legal claims. The utility said it will conduct a review to identify affordable, long-term capital and that it plans to “consider the full range of options” for how PG&E is organized and financed. Along with the review, PG&E reduced its 2027 capital investment plan by $2 billion to $11.4 billion, from $13.4 billion.