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Pacific Gas & Electric shares are trading lower following a report suggesting that California lawmakers have blocked Gov. Gavin Newsom from pursuing his plan to prevent insurance companies in California from recouping their losses from investor-owned utilities that cause a catastrophic wildfire.

Aug 28, 2026, 5:42 PMBenzinga Newsdesk
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Aug 28, 2026, 5:42 PM
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Aug 28, 2026, 5:42 PM
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  1. Aug 28, 2026, 9:27 PMJosh Kohn-Lindquist

    Stock Market Today, Aug. 28: PG&E Falls 8% on Wildfire-Liability Uncertainty Ahead of Aug. 31 Deadline

    PG&E stock plummeted 7.52% to $16.61 after California lawmakers blocked Governor Newsom's plan to protect utilities from insurer recoupment in catastrophic wildfires. With an Aug. 31 legislative deadline approaching, investors face uncertainty over wildfire-liability protections. Trading volume surged 387% above average as concerns rippled through the utility sector.

    Read original at the-motley-fool
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