BofA Securities analyst Ross Fowler has reinstated Buy ratings on Edison International (EIX), Pacific Gas & Electric (PCG), and Sempra (SRE), citing their attractive valuations and California’s robust wildfire risk management strategies. Despite recent wildfire events, Fowler believes the state’s policies, coupled with the utilities’ efforts to mitigate risks, present a favorable investment opportunity.
California lawmakers have rejected a bill aimed at preventing utility companies from using customer funds for advertising and lobbying. The bill would have expanded definitions of prohibited advertising and political influence, allowing regulators to fine utilities that violated the rules. Consumer groups criticized the ruling, claiming that utilities have found ways to circumvent existing rules.
A bill in the California Legislature aims to crack down on how utilities spend customer money amid concerns about lobbying and advertising expenses. The bill would expand the definition of prohibited advertising and political influence and allow regulators to fine utilities that break the rules.
