PG&E has announced a settlement agreement with individual wildfire claimants for multiple fires totaling more than $13 billion.
These fires include the 2017 Northern California wildfires, the 2015 Butte Fire and the Camp Fire in 2018 that leveled most of the town of Paradise. As a part of the settlement the company will also settle claims related to the Tubbs Fire and the Ghost Ship fire, although PG&E does not admit fault in those incidents.
PG&E has also pledged to make changes within the organization to improve operations. These changes include appointing new leaders, completing infrastructure inspections and creating a Wildfire Assistance Fund of $105 million. The fund is intended to help those displaced by the 2017 Northern California wildfires who need financial help with urgent needs, according to a statement issued by the company.
This new agreement with individual claimants is the third settlement since PG&E filed for bankruptcy.
An additional $1 billion was allocated by the utility to settle with cities and counties that were affected by the 2017 wildfires and the 2018 Camp Fire.
The utility announced that it has settled with insurance companies for claims associated with the 2017 fires and the Camp Fire for $11 billion.
PG&E’s settlements with individuals, insurance companies, cities and counties total more than $25 billion.
The company said in a statement that it plans to be out of bankruptcy before the June 2020 deadline.