PG&E Caps Best Day Since Going Bankrupt on a California Fire Fix

Utility giant PG&E Corp. capped its best day since going bankrupt in January thanks to California’s governor.

Gavin Newsom called on lawmakers on April 12 to find a way to help the state’s utilities cover the costs of devastating wildfires -- costs so crippling that PG&E was forced to file for Chapter 11 in January while facing $30 billion in liabilities. He issued a report outlining possible solutions -- including an insurance fund utilities could tap into -- sending the clearest signal yet that California will move to keep its power companies solvent.

“We all have a burden and a ...