PG&E Announces $1 Billion Settlement

PG&E Announces $1 Billion Settlement 

Pacific Gas and Electric Co. announced a $1 billion settlement Tuesday, as part of a negotiated civil settlement for a string of wildfires caused by the embattled utility. The settlement deal, part of the utility company’s ongoing bankruptcy process, involved fires caused by PG&E equipment in 2015, 2017 and the Camp Fire in November. PG&E officials on Tuesday issued a statement saying the utility reached a handful of settlements as part of its financial reorganization plan underway in federal court. The deal must still be approved by the federal bankruptcy judge overseeing PG&E’s finances. PG&E said it also reached agreements with public entities hit by the 2015 Butte Fire, which includes the Calaveras County Water District. CCWD has accepted a mediator’s proposal of $3 million to resolve the district’s claims. The proposal is exclusive of and does not affect the claims of any residents, individuals, or businesses. In total, the settlement deal involved 14 Northern California Cities and Counties.

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