Public utilities: wildfires: victim compensation.

Existing law vests the Public Utilities Commission with regulatory authority over public utilities, including electrical corporations. Under federal bankruptcy law, the Pacific Gas and Electric Company entered into a settlement agreement with victims of certain wildfires caused by the company occurring before the 2019 calendar year through the establishment of the Fire Victim Trust that has a certain expected value. This bill would require the commission, in a new or existing proceeding, to undertake a comprehensive review of actions taken by the Pacific Gas and Electric Company that materially and adversely affected the value of its stocks provided pursuant to the above-described settlement agreement. This bill would make legislative findings and declarations as to the necessity of a special statute for the Pacific Gas and Electric Company.