PG&E To Settle Wildfire Claims Of 18 Local Public Entities - Quick Facts

(RTTNews) - Pacific Gas and Electric Company, a PG&E Corp. (PCG) unit, has resolved to settle the 2015, 2017 and 2018 wildfire claims by signing agreements with 18 public agencies. The settlement payment of $1 billion will be made as part of a Chapter 11 plan of reorganization subject to Bankruptcy Court confirmation. PG&E plans to complete the Chapter 11 process as expeditiously as possible.

"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 mutual acceptable resolutions." said PG&E Corp. CEO Bill Johnson.