Pacific Gas and Electric announced Friday it has reached a tentative $13.5 billion settlement resolving all major claims related to the deadly, devastating Northern California wildfires of 2017-2018 that were blamed on its outdated equipment and negligence.
The utility says the deal, which still requires court approval, represents a key step in leading it out of Chapter 11 bankruptcy.
The deal is expected to resolve all claims arising from a series of deadly 2017 Northern California wildfires and the 2018 Camp Fire, which killed 85 people and all but incinerated the town of Paradise. It also resolves claims from the 2015 Butte Fire and Oakland’s 2016 Ghost Ship Fire.
