Reuters: Bankrupt PG&E reaches $13.5 billion settlement with California wildfire victims
California’s bankrupt power producer PG&E Corp (PCG.N) said on Friday it had reached a $13.5 billion settlement with victims of some of most devastating wildfires in the state’s modern history.
This comes after fire investigators concluded that PG&E transmission lines caused several of the state’s deadliest and more destructive fires. This settlement does not include the recent fires.
In Final Major Settlement, PG&E Reaches Agreement to Resolve Individual Claims Relating to the 2017 and 2018 Wildfires and the 2015 Butte Fire – Company on Path to Making Major Changes Necessary to Exit Bankruptcy Ahead of June 30, 2020, Deadline https://t.co/EsS9yPzVU5 pic.twitter.com/JB0fDo40My
— Pacific Gas & Electric (@PGE4Me) December 7, 2019
