Wildfire costs add $40 a month to power bills
Wildfire-related charges now make up 17% of monthly Southern California Edison bills, and the utility wants more from the state insurance fund.
The escalating cost of wildfires now adds around $40 to the average monthly power bill for residential power companies, according to a government report.
Wildfire-related charges now account for 17% of monthly charges from Southern California Edison.
The California Earthquake Authority manages the accumulating money. There is $21 billion right now in the state's wildfire insurance fund to pay claims against utilities.
But Southern California Edison has its eyes on that money. The utility does not have anywhere near the $50 billion or so it may need to offset claims from last year's fires in Altadena, L.A. and Malibu.