California firm PG&E to pay $13.5 billion to wildfire victims

California firm PG&E to pay $13.5 billion to wildfire victims

Californian utility giant Pacific Gas and Electric (PG&E) has agreed on a $13.5 billion settlement with victims of wildfires in the state, it was reported on Saturday. The company’s equipment has been linked to several blazes including the deadliest and most destructive wildfire in state history, 2018’s ‘Camp Fire’, the BBC reported.

PG&E filed for bankruptcy this year and has already settled with insurers and local authorities. The agreements should allow the firm to emerge from bankruptcy.

PG&E’s settlement relates to claims over several deadly blazes, including the Camp Fire, Northern California wildfires (2017), Ghost Ship Fire in Oakland (2016) and Butte Fire (2015).

The four combined killed more than 150 people and destroyed properties worth millions of dollars.

PG&E President Bill Johnson said since entering the bankruptcy process “getting wildfire victims fairly compensated, especially the individuals, has been our primary goal.

“We want to help our customers, our neighbors and our friends in those impacted areas recover and rebuild after these tragic wildfires,” the BBC quoted Johnson as saying on Friday. This year saw yet more rampant wildfires and the firm sought to prevent them by cutting off power to customers in California.

STAY IN TOUCH FOR MORE UPDATES.

if you like the article information then press the like button, Comments you’re opinions about this article and share it with family and friends on social media platforms

SUSCRIBE Quickclarity news to get latest news updates.

Thank you for reading.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.