Electric utilities once were considered safe, boring investments, prized for their dividends and slow, steady growth. But last month, famed value-investor Warren Buffett warned the Electric utilities once were considered safe, boring investments, prized for their dividends and slow, steady growth. But last month, famed value-investor Warren Buffett warned the "specter of zero profitability or even bankruptcy" loomed over utilities in some Western states. Credit: Jordan Vonderhaar/Bloomberg

(Bloomberg) — Massive wildfires sparked by power lines used to be a California problem, one many utility executives considered safely confined to the Golden State.

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