The Oneida Daily Dispatch (Oneida, NY)
PG&E says it has reached $13.5 billion wildfire settlement
LOS ANGELES (AP) >> Pacific Gas and Electric announced it has reached a tentative $13.5 billion settlement resolving all major claims related to the deadly, devastating Northern California wildfires of 2017-2018 that were blamed on its outdated equipment and negligence.
The utility says the deal, which still requires court approval, represents a key step in leading it out of Chapter 11 bankruptcy.
The deal is expected to resolve all claims arising from a series of deadly 2017 Northern California wildfires and the 2018 Camp Fire, which killed 85 people and all but incinerated the town of Paradise. It also resolves claims from the 2015 Butte Fire and Oakland’s 2016 Ghost Ship Fire.
“From the beginning of the Chapter 11 process, getting wildfire victims fairly compensated, especially the individuals, has been our primary goal,” Bill Johnson, PG&E Corporation’s CEO and president, said in a statement Friday. “We want to help our customers, our neighbors and our friends in those impacted areas recover and rebuild after these tragic wildfires.”
In most cases the 2017 and 2018 fires were blamed on power lines, and two attorneys representing more than 5,000 Northern California fire victims hailed the settlement.
“I think it’s a fantastic result,” said attorney Rich Bridgford of Bridgford, Gleason & Artinian, adding it will not only compensate thousands of devastated fire victims but also require PG&E to put billions into overhauling its infrastructure to prevent future disasters.
“You have to be mindful of the fact that PG&E is in bankruptcy,” he added. “This means they are required to perform a delicate balancing act aimed at achieving dual goals of deterring bad past behavior on the one hand and on the other hand keeping the utility financially viable so that it can function and keep power flowing. We believe the settlement achieves this delicate balance.”
The 2018 Camp Fire was California’s deadliest and destroyed nearly 18,000 structures. The series of wildfires that spread across a wide stretch of Northern California in 2017 killed dozens and burned tens of thousands of structures.
“The goal of the litigation from the very beginning has been to change their behavior, and that is their lack of safety standards and the way theymanage and maintain their equipment,” attorney James Frantz said of PG&E.