California Lawmakers to Adjourn Without Voting on Wildfire Bill

California’s Assembly is set to adjourn without passing a major overhaul of the state’s wildfire response. Coming a day after a legislative agreement triggered the biggest stock rout in years for PG&E Corp. and Edison International, the failure to advance a comprehensive fix raises regulatory and liability uncertainty for both utilities. The news is likely to keep pressure on sentiment and expectations around wildfire-related costs and future policy outcomes.