"PG&E Announces $13.5 Billion Deal to Resolve Wildfire Claims"

"PG&E has reached a $13.5 billion deal to settle claims stemming from recent catastrophic fires blamed on its equipment, marking a key milestone in the utility's plan to exit from Chapter 11 bankruptcy.

In an announcement Friday, the company said the agreement resolves all major claims related to the North Bay fires of 2017, last November's devastating Camp Fire, the 2016 Ghost Ship warehouse fire in Oakland and the 2015 Butte Fire.

"Since the beginning of the Chapter 11 process, getting wildfire victims fairly compensated, especially the individuals, has been our primary goal," PG&E CEO Bill Johnson said in a statement."

Jeremy Siegel reports for KQED December 7, 2019.


"PG&E Reaches $13.5 Billion Deal With Wildfire Victims" (New York Times)

Source: KQED, 12/09/2019