California’s largest utility is putting billions of dollars in planned investments on ice as its CEO lashes out at Sacramento over the state’s wildfire liability rules — warning that the company can no longer afford to move forward at its current pace.

PG&E announced Wednesday it plans to defer approximately $2 billion in planned investments for 2027, reducing the amount it expects to borrow while continuing to spend billions on its California operations.

The CEO Patti Poppe said the utility is being squeezed by California’s system for assigning wildfire costs, making it increasingly difficult and expensive to raise the money needed to…

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