Home News Bankrupt PG&E reaches $13.5 billion settlement with California wildfire victims

Bankrupt PG&E reaches $13.5 billion settlement with California wildfire victims

9

Bankrupt PG&E reaches .5 billion settlement with California wildfire victimsIt filed for Chapter 11 protection in January, citing potential liabilities in excess of $30 billion from wildfires in 2017 and 2018 linked to its equipment. “With this important milestone now accomplished, we are focused on emerging from Chapter 11 as the utility of the future that our customers and communities expect and deserve,” Chief Executive Officer Bill Johnson said in a statement. State fire investigators in May determined that PG&E transmission lines caused the deadliest and most destructive wildfire on record in California, the wind-driven Camp Fire that killed 85 people in and around the town of Paradise last year.