Weeks after pleading guilty in court to 84 involuntary manslaughter charges for starting a wildfire that wiped out the town of Paradise, Pacific Gas and Electric Company announced Wednesday that the utility company is emerging out of bankruptcy with a plan on how it will repay 2017 and 2018 wildfire survivors. PG&E filed Bankruptcy in Jan. 2019 months after its equipment caused the Camp Fire in 2018, the deadliest and most destructive wildland fire in California history.
PG&E coming out of bankruptcy will allow the utility company to pay $25.5 billion for losses from wildfires in 2017 and 2018. The settlements include $13.5 billion earmarked for more than 80,000 wildfire survivors.
Gov. Gavin Newsom signed a law to create a wildfire fund of up to $21 billion to pay wildfire victims. Half the money comes from customers, while utility companies have the option to front another $10.5 billion.