📊 California utilities just lost billions in hours as wildfire legislation spooked the street.
→ The new bill piles fire liability back onto shareholders, and investors are selling first and asking questions later.
🔹 Major California power stocks are down hard — the bill reopens liability for both past and future fires.
🔹 PG&E’s bankruptcy is still a scar on the market’s memory, so no one is waiting for the next blow.
🔹 Consumer protection framing doesn’t hide it: utilities are being turned into default wildfire insurers.
🔹 Brace for volatility, political fights, and more downside before this story gets clearer.
💡 When lawmakers rewrite risk overnight, a utility’s only real protection is political muscle.
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💰 FinCryptoDaily
August 31, 2026 362
