How would that help? Both the state and utilities are strictly liable for fires they cause in California and I don't see the state as being any more willing to

How would that help? Both the state and utilities are strictly liable for fires they cause in California and I don't see the state as being any more willing to assume that liability go bankrupt than PG&E is. It's already the state that decides how much gets spent on maintenance and the relevant regulatory agency hasn't been willing to let PG&E raise its rates. I guess if its nationalized they could raise taxes instead of raising electricity rates but that sounds equally politically infeasible.