NewEnergyNews: ORIGINAL REPORTING: Utility bankruptcy concerns rise as bill comes due for California wildfires

NewEnergyNews

Gleanings from the web and the world, condensed for convenience, illustrated for enlightenment, arranged for impact...

While the OFFICE of President remains in highest regard at NewEnergyNews, this administration's position on climate change makes it impossible to regard THIS president with respect. Below is the NewEnergyNews theme song until 2020.

The challenge now: To make every day Earth Day.

YESTERDAY

  • FRIDAY WORLD HEADLINE-Globalization 4.0 And Climate Change
  • FRIDAY WORLD HEADLINE-Big Money Keeps Going To New Energy
  • FRIDAY WORLD HEADLINE-China Could Be The New Energy Superpower
  • THE DAY BEFORE

    THINGS-TO-THINK-ABOUT THURSDAY, January 17:

  • TTTA Thursday-U.S. Emissions Went The Wrong Way In 2018
  • TTTA Thursday-Wind Gets Bigger, Better, Cheaper
  • TTTA Thursday-Solar Plus Storage Bests NatGas Peakers
  • THE DAY BEFORE THE DAY BEFORE

  • ORIGINAL REPORTING: Does transmission planning make transmission building too hard?
  • ORIGINAL REPORTING: Net zero energy homes and solar communities
  • THE DAY BEFORE THAT

  • TODAY’S STUDY: The Compelling Case For Transportation Electrification
  • QUICK NEWS, January 15: A Plan To Attack Climate Change; New Energy Is Reshaping The Power System
  • THE LAST DAY UP HERE

  • TODAY’S STUDY: The U.S. Power Sector Right Now
  • QUICK NEWS, January 14: Cliches Changed By Global Weirding; Coal Country Facing The Change
  • --------------------------

    --------------------------

    Founding Editor Herman K. Trabish

    --------------------------

    --------------------------

    Some details about NewEnergyNews and the man behind the curtain: Herman K. Trabish, Agua Dulce, CA., Doctor with my hands, Writer with my head, Student of New Energy and Human Experience with my heart

    email: herman@NewEnergyNews.net

    -------------------

    -------------------

      A tip of the NewEnergyNews cap to Phillip Garcia for crucial assistance in the design implementation of this site. Thanks, Phillip.

    -------------------

    Pay a visit to the HARRY BOYKOFF page at Basketball Reference, sponsored by NewEnergyNews and Oil In Their Blood.

  • ---------------
  • WEEKEND VIDEOS, January 19-20:

  • A TV Western That Predicted The Future
  • Getting To Higher Levels Of New Energy
  • Climate Changing Real Estate Values In Miami

    Wednesday, December 26, 2018

    ORIGINAL REPORTING: Utility bankruptcy concerns rise as bill comes due for California wildfires

    Utility bankruptcy concerns rise as bill comes due for 2017 California fires; Some 394 wildfires at the end of 2017 could cost California’s IOUs tens of billions, but there are ways to mitigate the financial impact.

    Herman K. Trabish, June 25, 2018 (Utility Dive)

    Editor’s note: The change in the law described here was not enacted, making the proposed financial solutions more important after the 2018 fires hammered more nails in the IUOs’ coffins.

    California's state motto is "Eureka!" But its energy sector's motto is quickly becoming "Somebody do something!" The state's grid operator is slowly learning to cope with levels of renewable generation that require unprecedented system flexibility; regulators are studying an onslaught of customer choice nobody has written rules for; and now, California's investor-owned utilities (IOUs) face liability for the state's 2017 [Editor’s note: And 2018] wildfires that could bankrupt them. The state saw five of its 20 most destructive fires between October and December of 2017, capping a year in which the California Department of Forestry and Fire Protection (Cal Fire) recorded 7,117 wildfires. The previous five years averaged 4,835 wildfires per year. The total cost, including fire suppression, insurance and recovery, could be $180 billion, Courthouse News Service reported. [Editor’s note: 2018’s Campfire was even more destructive.]

    For the fires, California's IOUs face a special kind of liability. Contrary to 48 other states, California courts have interpreted the law on utility liability to mean that utilities must pay all damage costs if utility equipment was involved in a fire, whether the utility was negligent or not. There is a growing concern that this financial burden could make it difficult for California IOUs to remain solvent. Regulators are asking how to judge the "prudence" of the IOUs' preparations in the "new normal" of extreme weather linked to climate change. While victims' attorneys and insurance companies want IOUs held accountable, legislators and policymakers are wondering if the IOUs are too big to fail. The concern about the utilities' financial viability has brought forward potential solutions, including ways to reduce their exposure to liability through risk pools and settlements with their insurers and others who contributed to the fire… click here for more

    NO QUICK NEWS

    0 Comments:

    Post a Comment

    << Home