PG&E, Edison Bond Spreads Widen on Wildfire Liability Fears

Bonds issued by PG&E Corp. and Edison International declined in value on Monday following California lawmakers' rejection of a provision in Governor Gavin Newsom's proposal to transfer wildfire liabilities from utilities to the state. The rejected provision would have limited utility companies' financial exposure to losses from wildfires. Bond spreads widening indicates investors are demanding higher yields to hold the debt, reflecting increased perceived risk.

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