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Governor works on plan for wildfire cost

Governor Gavin Newsom is working on a plan to cover wildfire cost.

Posted: Apr 12, 2019 11:58 AM

SACRAMENTO, Calif. - Governor Gavin Newsom is working on a plan to cover wildfire cost.

A new report, prepared by the Governor, shows PG&E's rates could double if it is found responsible for another disaster.

The report says wildfires have caused more than $36 billion in damages over the past two years.

One possibility the governor will examine is a statewide risk pool which could include a rise in insurance rates.

"The money has got to pop out somewhere in the economy of the State of California. And it's most likely that it's going to hit all of us in one form or another," said Steven Weissman from UC Berkeley Goldman School of Public Policy.

"We are absolutely against any sort of ratepayer bailout. Let's come up with other funds," said Dr. Mark W. Tony from The Utility Reform Network.

In a statement to Action News Now, PG&E said the following:

"It is clear that more needs to be done to adapt and address the threat of extreme weather and wildfires."

Action News will bring you more information after the Governor speaks today.

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