California Plans to Boost Wildfire Fund by $18 Billion

California lawmakers have reached an agreement to boost the state's wildfire utility fund by $18 billion. The fund, known as the Wildfire Fund, is designed to help utilities cover the costs of wildfire-related damages and liabilities. The $18 billion injection will come from a combination of ratepayer funds and revenue from a new fee on utility bills. This additional funding is aimed at ensuring the Wildfire Fund remains solvent and able to cover the increasing costs associated with the state's ongoing wildfire crisis. The agreement also includes provisions to improve the fund's governance and oversight, as well as measures to incentivize utilities to invest in wildfire prevention and mitigation efforts. The goal is to strengthen the state's overall resilience and preparedness in the face of the growing threat of devastating wildfires. This move is part of California's broader efforts to address the challenges posed by climate change and protect its residents and businesses from the economic and social impacts of natural disasters.