Gov. Newsom proposes that electric customers and utility shareholders pay another $18 billion to shore up a $21 billion state fund for wildfire victims

Electricity ratepayers would contribute half the money through a monthly fee. The other half would come Edison, PG&E and Sempra.

PG&E Corp. shares fell on a proposal by California Governor Gavin Newsom that would require the utility company’s shareholders to make a significant contribution to the replenishment of California’s wildfire insurance fund.

In 2019, California lawmakers established the $21 billion California Wildfire Fund, managed by the California Earthquake Authority, to provide faster, more substantial compensatio