July 30 (Reuters) - California Governor Gavin Newsom is

proposing legislation to bolster the state's wildfire fund with

an additional $18 billion for utilities, Bloomberg News reported

Wednesday, citing sources familiar with the plan.

Reuters could not immediately verify the report.

In 2019, California lawmakers established the $21 billion

California Wildfire Fund, managed by the California Earthquake

Authority, to provide faster, more substantial compensation for

victims of certain utility-caused wildfires while protecting

power companies from massive claims.

Electricity ratepayers would contribute half the money

through a monthly fee while the other half would be funded by

utility companies that benefit from the fund, Edison

International ( EIX ), PG&E ( PCG ) and Sempra ( SRE ), the

report said.

The proposal remains in draft form and is subject to change,

according to the report.

"We continue to work with the legislature on policy that

will stabilize California's Wildfire Fund to support the

recovery of wildfire survivors and to protect California utility

consumers," Newsom's office said in a statement to Bloomberg.

Newsom's office, Edison, PG&E ( PCG ) and Sempra ( SRE ) did not immediately

respond to a Reuters' request for comment.