PG&E to pay $1 billion to governments for wildfire damage

SAN FRANCISCO (AP/KTVU) - A California utility blamed for igniting several wildfires that killed dozens and destroyed thousands of homes has agreed to pay $1 billion to local governments.
 
Attorneys representing 14 local public entities announced the settlement with Pacific Gas & Electric on Tuesday to cover "taxpayer losses." The fires include a 2015 fire in Butte County, a series of 2017 fires in Northern California wine country and the 2018 fire that destroyed the town of Paradise and killed 85 people.
 
PG&E Corp. filed for bankruptcy earlier this year citing billions of dollars in expected losses, mostly from lawsuits filed by individual fire victims, businesses and insurance companies. A judge overseeing that case must approve the settlement announced Tuesday. 
 
"We remain focused on supporting our customers and communities impacted by wildfires and helping them recover and rebuild. This is an important first step toward an orderly, fair and expeditious resolution of wildfire claims and a demonstration of our willingness to work collaboratively with stakeholders to achieve mutually acceptable resolutions. We hope to continue making progress with other stakeholders," Pacific Gas & Electric said in a statement.