PG&E announced on Wednesday it will defer approximately $2 billion in 2027 capital spending, reducing its plan from $13.4 billion to $11.4 billion. This decision comes as the utility faces renewed uncertainty over wildfire liability costs, following a Senate bill amendment that did little to reduce utilities' exposure to fire-related expenses or address the long-term solvency of California's fund for such liabilities. The company is launching a strategic review to evaluate regulatory, financial, operational, and strategic alternatives, including its organizational and financing structures, aiming to reduce customer costs associated with higher financing expenses and cut its debt financing needs by $2 billion.