The Northern California utility blamed for the ignition of several wildfires that killed dozens and destroyed thousands of homes has agreed to pay $1 billion to local governments.
The remains of a home in Paradise, Calif., where an artist has painted murals on some of the ruins from last year's Camp fire.
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.
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