More than half of the settlement is related to the 2018 fire in Northern California that killed 85 people and destroyed more than 13,000 homes. It included $270M to the town of Paradise, which was mostly destroyed in the fire.
The money also covers damage from a 2015 in Butte County and a series of 2017 fires in Northern California wine country.The Texas-based Baron & Budd law firm announced the settlement on behalf of the 14 local governments.
PG&E Corp. filed for bankruptcy earlier this year citing billions of dollars in expected losses, mostly from lawsuits filed by individual fire victims, businesses and insurance companies. A judge overseeing that case must approve the settlement announced Tuesday. Last month, regulators approved allowing utilities to cut off electricity to possibly hundreds of thousands of customers to avoid catastrophic wildfires.
The precautionary outages could mean multiday blackouts for cities as large as San Francisco and San Jose, Northern California's major power provider warned in a recent filing with the utilities commission.
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