Investor SentimentInvestors have been hesitant to invest in California utilities, particularly PCG, due to past bankruptcies and wildfire risks.
Regulatory UncertaintyRequested $2.8B Net Incremental SB410 Spend — It is uncertain if the CPUC can rationalize the cost to providing this service.
Valuation ConcernsInvestors have shied away from wildfire risk, causing shares to keep a 20-30% discount in the past year.