Sempra Energy shares dropped 3% as multiple large fires burned around Los Angeles. While there's no indication the company's equipment started the fires, investors remain concerned about potential financial impacts similar to those faced by Pacific Gas and Electric Company in 2019. Analysts, however, point to liability protections that could limit the risks for utilities.
The drop comes as multiple large fires are burning around Los Angeles, with strong winds in the forecast that could make them difficult to contain. Tens of thousands of people have been"At this time, there is no indication that SCE equipment is believed to have started the fire, as SCE has not filed an electric service incident report .
Previous wildfires have had massive financial impacts on utilities and their investors. Northern California utility Pacific Gas and Electric Company filed for bankruptcy in 2019, in large part due to its"Investors remain nervous from our conversations given the lack of containment with a 'sell first, ask questions later' mindset.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly, whose footprint includes power and gas in the San Diego area, was down 3%. Sempra's SDG&E said on itsChevron CEO on Trump, artificial intelligence and the future of American energy
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