PCG - California lawmakers clear bill to speed up review of PG&E's power line plan

PG&E ( NYSE: PCG ) +1.8% in Wednesday's trading as California lawmakers passed legislation that aims to speed up a review of the utility's plan to bury its power lines in areas at greatest risk for wildfires, Bloomberg reports.

The bill would require state agencies to evaluate PG&E's ( PCG ) proposal within 18 months and mandate oversight of the company's work if its plan is ultimately approved.

PG&E ( PCG ) has said the measure would help it move forward with its plan that includes burying 10K miles of electrical wires in 10 years to help lower its overall wildfire prevention costs and reduce fire risks.

As PG&E's ( PCG ) wildfire de-risking continues, "a rangebound stock could be a recovery story," Mike Zaccardi writes in a bullish analysis published on Seeking Alpha .

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