Governor Newsom statement on compromise to address wildfire risk, support fire survivors, and create stronger accountability

SACRAMENTO - Governor Gavin Newsom issued the following statement on Senate Bill 492 (Petrie-Norris), the three-party compromise reached yesterday to reduce wildfire risk, support fire survivors, and strengthen utility accountability:

"We reached a compromise that blocks hedge funds from profiteering off wildfire survivors, bars utility executives from taking bonuses when their company ignites a fire, and gets money into survivors' hands faster. It also establishes a Statewide Community Wildfire Strategy to better coordinate prevention and preparedness efforts across the state. This is all real progress for future fire survivors.

"Nonetheless, this system needs full structural reform - not a partial one. I urge the Legislature to build on this progress next year and finish the work we started to secure the Wildfire Fund's long-term durability, stabilize electricity rates, and ensure fire victims are never again turned into unsecured creditors in a bankruptcy proceeding."