Stanford Report Highlights Escalating Wildfire Costs and Unmet Prevention Priorities in California
A new report from Stanford's Climate and Energy Policy Program (CEPP) reveals that despite a recent decrease in acres burned in California in 2025, the financial impact of wildfires continues to surge. Wildfire-related costs passed on from utilities to ratepayers escalated from $488 million in 2019 to nearly $9 billion in 2024. This has led to significant increases in residential electric bills, with Pacific Gas and Electric customers seeing a 66% rise, Southern California Edison customers an 88% increase, and San Diego Gas & Electric customers a 46% jump between 2020 and 2026, far outpacing the 26% consumer price inflation. Homeowners insurance premiums also rose by 84% over the same period, with the state's insurer of last resort, the FAIR Plan, now covering approximately 5% of single-family homes, representing over $750 billion in property value. The report emphasizes that while the total acreage burned decreased, the number of structures destroyed increased tenfold in 2025, largely due to fires in dens...