PG&E to pay $1 billion to governments for wildfire damage

Mail Online | 5/19/2020 | Associated Press
Click For Photo: https://i.dailymail.co.uk/1s/2019/06/19/02/14967558-0-image-a-2_1560909363713.jpg

A California utility agreed Tuesday to pay $1billion to 14 local governments to cover damages from a series of deadly wildfires caused by its downed power lines.

The settlement is a sliver of the more than $30billion in potential damages Pacific Gas & Electric is facing in lawsuits filed by local governments, insurance companies and private property owners.

Half - Agreement - Governments - Fire - People

More than half of the $1billion in the agreement would go to four governments impacted by a 2018 fire that killed 85 people and destroyed nearly 14,000 homes in Northern California.

A total of $270million would go to Paradise, which was mostly destroyed in the blaze.

Town - Residents - Fire - People - %

The town had 26,000 residents before the fire and now has less than 3,000 people. It has lost more than 90% of its tax revenue.

'There is some relief and hope in knowing that we will have some financial stability,' Paradise Town Manager Lauren Gill said.

'We - Recovery - Town - People

'We can't do disaster recovery and rebuild the town if we don't have people to do it.'

The settlement also covers a 2015 fire in Calaveras County and a series of 2017 fires in wine country.

PG - E - Bankruptcy - January

PG&E filed for bankruptcy in January.

The agreement would resolve claims from some local governments, but it still must be approved by a bankruptcy court.

Lawsuits - Insurance - Companies - Property - Owners

That likely won't happen until lawsuits by insurance companies and private property owners are resolved.

'The bankruptcy court approval is not trivial,' said Mike Danko, part of a group of attorneys who represent about 2,800 wildfire victims in a lawsuit...
(Excerpt) Read more at: Mail Online
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