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PG&E Investors Optimistic Following California Senate's Wildfire Measure

Tanzeel Akhtar

PG&E Corporation (NYSE: PCG) shares were trading higher Tuesday after the California Senate passed a plan to address wildfire impacts on the state’s investor-owned electric utilities.

The bill AB1054 addressing the wildfire crisis surrounding the state’s investor-owned electric utilities moved swiftly through the Senate Monday, according to the San Francisco Chronicle

The bill would set up a new $21-billion fund to help utilities endure future wildfire costs.

PG&E shares were trading higher by 4.86% at $22.78 at the time of publication Tuesday. The stock has a 52-week high of $49.42 and a 52-week low of $5.07.

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