PG&E says it has reached $13.5 billion wildfire settlement
Source: AP
LOS ANGELES (AP) — Pacific Gas and Electric announced Friday it has reached a tentative $13.5 billion settlement resolving all major claims related to the deadly, devastating Northern California wildfires of 2017-2018 that were blamed on its outdated equipment and negligence.
The utility says the deal, which still requires court approval, represents a key step in leading it out of Chapter 11 bankruptcy.
The deal is expected to resolve all claims arising from a series of deadly 2017 Northern California wildfires and the 2018 Camp Fire, which killed 85 people and all but incinerated the town of Paradise. It also resolves claims from the 2015 Butte Fire and Oakland’s 2016 Ghost Ship Fire.
“From the beginning of the Chapter 11 process, getting wildfire victims fairly compensated, especially the individuals, has been our primary goal," Bill Johnson, PG&E Corporation's CEO and president, said in a statement Friday. “We want to help our customers, our neighbors and our friends in those impacted areas recover and rebuild after these tragic wildfires.”
Read more: https://www.meridianstar.com/news/nation_and_world/pg-e-says-it-has-reached-billion-wildfire-settlement/article_ebc415d1-b06f-5804-a0cc-a7e370573d45.html
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has poured millions into the hands of politicians, including Newsom. That's why it will never be publicly owned.
