PG&E Files Chapter 11 Bankruptcy Plan - NBC Bay Area

PG&E Files Chapter 11 Bankruptcy Plan

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    PG&E Files Chapter 11 Bankruptcy Plan
    Justin Sullivan/Getty Images
    The Pacific Gas and Electric (PG&E) logo is displayed on a hard hat at a work site on July 30, 2014 in San Francisco, California.

    PG&E Monday filed a Chapter 11 bankruptcy reorganization plan in another step to, among other efforts, compensate wildfire victims, PG&E officials said.

    The San Francisco-based company said the plan filed Monday will not raise or lower customers' rates while compensating wildfire victims "fairly."

    PG&E's liability would be limited to $17.9 billion if the court approves the plan.

    Wildfire victims and certain public entities would receive no more than $8.4 billion.

    PG&E is trying to reorganize before June 30, 2020, so the company can participate in the state's newly-established wildfire fund.

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