Shares of power producers ticked down, as traders rotated into more cyclical sectors.
Danish energy company Orsted sued the Trump administration on Thursday, claiming that the stop-work order the government issued last month for its offshore wind farm in the Rhode Island seas was unlawful. The lawsuit could be a test case in the Trump administration’s efforts to snuff out the wind-power industry.
The Justice Department is suing Southern California Edison for about $77 million in damages, alleging the utility provider’s negligence caused two deadly wildfires.
Separately, California Gov. Gavin Newsom had proposed a multibillion dollar continuation fund to bolster utilities’ reserves for wildfire liabilities.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
September 04, 2025 17:49 ET (21:49 GMT)
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