SB 492 would have sped up payments to fire victims and changed how much utilities owe. The Assembly adjourned without a vote, so neither change takes effect.
Medium
PG&E and Edison International shares rose after lawmakers went home without a vote.
Share movement is plausible and consistent with Bloomberg/WSJ market coverage, but the story states it as fact without citing market data or an investor source; the causal linkage to the adjournment is the desk's own framing.
Medium
Utilities argued the watered-down proposal did not cut their financial exposure enough.
Attributed by the story to the utilities themselves; consistent with the LA Times report that lawmakers killed the bill after utility complaints and Utility Dive's note that the final bill contained no damages cap.