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Michael Wara @michaelwara.bsky.social · 22 days
Wildfire Threats Make Utilities Uninsurable in US West www.bloomberg.com/news/article...
Wildfire Threats Make Utilities Uninsurable in US Westwww.bloomberg.com As wildfire season starts, some utilities are now operating without insurance — and are on the hook for millions of dollars in damages if their power lines are linked to a blaze.
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Lawrence Vulis @lvulis.bsky.social · 22 days
What are the implications for energy transition and utility solvency with this?
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Max Tide @maxtide.bsky.social · 22 days
Could they just insure themselves and put it on the bill? Then customers would be enraged and could demand that big polluters pay... And we could stop the madness.
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Sarah T. Fischell @sfischell.bsky.social · 22 days
We r unprepared for climate risk & adaptation. What a terrifically knotty problem. 🫤 “The utility industry is openly discussing the need to set up a federal program that could provide a type of insurance backstop for smaller power companies that have limited financial resources.” #utilities
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Duncan Watson @duncanwatson.bsky.social · 22 days
in CA at least there is also the issue that they haven't been maintaining their powerlines. And many of the wildfires have been started by those same powerlines.