PG&E to pay $1 billion to resolve wildfire claims
SAN FRANCISCO, CALIFORNIA - Pacific Gas and Electric Company (PG&E) announced it will make $1 billion in payments under the agreements reached to resolve the wildfire claims held by 18 local public entities impacted by the 2015 Butte Fire, 2017 Northern California wildfires and 2018 Camp Fire.
Under the agreements, the payments will be made to the local government agencies as part of a Chapter 11 Plan of Reorganization to be filed in PG&E's pending Chapter 11 case, the company announced in the press release.
PG&E also provided an update on the safety inspections and repairs conducted in high-fire threat areas over the past six months as part of PG&E's Community Wildfire Safety Program.
Through the end of May, PG&E said it has completed visual inspections of approximately 99 percent of its distribution infrastructure and visual or aerial inspections of approximately 98 percent of its transmission infrastructure in high-fire threat areas. Throughout the inspection process, the company has been addressing and repairing conditions that pose an immediate safety risk and completing other high-priority repairs on an accelerated basis.
Repairs for all other conditions will be completed as part of PG&E's work execution plan.
Source: PG&E
