PG&E to pay $ 1B for fires
The Canadian Press –
Jun 18, 2019 / 3:05 pm | Story:
To California utility blamed for igniting several wildfires that killed dozens and destroyed thousands of homes has agreed to pay $ 1 billion to local governments.
Attorneys representing 14 local public entities announced the settlement with Pacific Gas & Electric on Tuesday to cover "taxpayer losses." The fires includes a 2015 fire in Butte County, a series of 2017 fires in Northern California wine country and the 2018 fire that destroyed the town of Paradise and killed 85 people.
PG&E Corp. filed for bankruptcy earlier this year citing billions of dollars into losses, mostly lawsuits filed by individual fire victims, businesses and insurance companies. A judge overseeing that case must approve the settlement announced Tuesday.
Pacific Gas & Electric did not immediately respond to request for comment.