Power companies are struggling to find affordable insurance coverage after facing billions in wildfire-related lawsuits, including Hawaiian Electric after the 2023 Maui fires. This could impact utilities’ ability to fund grid improvements and infrastructure.
- Utility companies from Hawaii to Texas have faced tens of billions in wildfire damages linked to their equipment.
- Hawaiian Electric was hit with over a dozen lawsuits following the deadly August 2023 Maui wildfires.
- Power company insurance has become prohibitively expensive or impossible to secure in high-risk states.
- Without affordable coverage, utilities may struggle to fund critical grid improvements and new infrastructure.
- Uninsured utilities face greater financial exposure to lawsuits and difficulty accessing capital for projects.
Source: Nbcrightnow
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