California power utility strikes 13.5-bln-USD settlement for 2017-2018 wildfires

0 Comment(s)Print E-mail Xinhua, December 7, 2019
Adjust font size:

SAN FRANCISCO, Dec. 6 (Xinhua) -- Pacific Gas and Electric Company (PG&E), the top power utility in northern California, said Friday that it has reached a 13.5-billion-U.S.-dollar settlement for wildfires in the northern part of California in 2017 and 2018.

The San Francisco-based company said the agreement settled all claims arising from the 2017-2018 wildfires, the 2015 Butte Fire and 2016 Ghost Ship Fire in Oakland city.

PG&E insisted it had no fault in the Butte Fire and Ghost Ship Fire, but it was held responsible for the 2018 Camp Fire that killed 85 people and the 2017 Tubbs Fire that left 22 dead. The Ghost Ship warehouse fire claimed 36 lives in 2016.

Friday's settlement is the third that PG&E has reached with individual claimants since it filed for bankruptcy protection earlier this year.

The utility said the settlement would help it get out of bankruptcy before the June 30, 2020, deadline under U.S. Chapter 11 Bankruptcy Code.

"From the beginning of the Chapter 11 process, getting wildfire victims fairly compensated, especially the individuals, has been our primary goal," said Bill Johnson, CEO and president of PG&E Corporation, the parent of PG&E.

"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," he said.

PG&E has previously reached settlements with two other major groups of wildfire claimants, including a 1 billion-dollar settlement with cities, counties and other public entities, and an 11 billion-dollar deal with insurance companies and other entities for the wildfires in 2017 and 2018. Enditem

Follow on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from